We have conviction in Silver because of its industrial usage and monetary fundamentals and its current average price compared to the Nasdaq Composite.
Here is a chart showing the historic ratio of the Nasdaq Composite to the Silver price per ounce:
Based upon this longterm ratio and the current level of the Nasdaq Composite, Silver should be valued at $67 / ounce using the ratio’s moving average. Silver is currently valued at around $26 / ounce.