Silver prices have climbed to three-month highs lately. And with Congresses' passage of a $1.2 trillion infrastructure bill, silver is expected to benefit due to its significant industrial usage. Therefore, we think silver ETFs iShares Silver Trust (NYSE:SLV), Global X Silver Miners (SIL), and Aberdeen Standard Physical Silver (SIVR) could be solid bets now. Read on.Last week, silver prices climbed above $25.00 per ounce—a new three-month high—after the Bureau of Labor Statistics (BLS) revealed that the Consumer Price Index for October expanded by 6.2% year over year, its largest increased since 1990. After a short correction on Monday, the white metal climbed today to around $25.25 per ounce.
The metal has recovered strongly after hitting its $21.40 per ounce year-to-date low in September. Furthermore, the passage of the bipartisan infrastructure bill is expected to boost the silver market due to the white metal’s usage in electric vehicles (EVs), batteries, fuel cells, and plug-in charging stations, among other industrial uses. Goldman Sachs (NYSE:GS) expects silver prices to hit $33 an ounce.
Given this backdrop, we think silver ETFs iShares Silver Trust (SLV), Global X Silver Miners ETF (SIL), and Aberdeen Standard Physical Silver Shares ETF (SIVR) could be solid bets now.