Silver pops 6% to top four-year high as industry faces supply shortage

Gold is the talk of the town. While the attention is warranted, the real focus by analysts, investors, and gold bugs should be silver.

Silver has been on a tear since cratering to around $11 in March. The white metal has soared more than 43 percent since April, climbing to a four-year high of $21.42 per ounce (at the time of this writing).

Investors are ostensibly seeking a store of wealth, and silver is the tool. But silver has been facing tough fundamentals in the post-coronavirus economy.

The industry is facing a supply shortage, sluggish workforce and new mines not opening in time. Plus, demand is booming from both investors and industry consuming silver for business purposes.

Silver is still way below its record high of about $45, but there is no reason why prices cannot return to that level in the coming months. If you missed out on the gold boom, this could be your opportunity to make up for it since silver is still reasonably priced.