Silver has been lagging behind gold in terms of growth in the last year, but one analyst said that now may be a good time to buy into silver.
According to Phil Streible, senior market strategist at RJO Futures, a gold-silver ratio above 80 signals a strong buy for silver. The gold-silver ratio was last at 80.43 at the end of Thursday's session.
"Silver has been lagging behind gold for quite a while now," Streible told Kitco News, "and I think that silver is due for its movement upwards, I wouldn't be surprised to see one of these 30 to 50-cent moves to the upside here."
Recent spikes in equities volatility could further prompt traders to rush into one of the metals, Streible said.
"Some people may be a little bit more comfortable with gold and will go into that, but I think the real opportunity lies with silver," he said.
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This article is commentary by an independent contributor. At the time of publication, the author held TK positions in the stocks mentioned.