London copper is headed for its biggest weekly gain since 1979, with a ton of the metal rising more than $1,000 dollars since Monday, skipping past $6,000 per ton at one stage in Friday trade.
Prices for industrial metals move along with signs of rising or falling economic growth and while copper is the current red-hot bet, silver is being tipped to follow, according to one analyst.
The metal is heavily used in electrical power switches, machinery control panels, batteries and radiography.
Daryl Guppy, CEO of Guppytraders, told CNBC Friday that silver prices are easy to predict as the trading action is currently lagging gold.
"So [when] I look at gold, I've got a three-four day window of opportunity to see how silver will behave," he said.
And Guppy said while industrial demand does suggest an upside for silver, it is the charts that are making him fall "in love" with the metal.
"Yes we have got the fundamentals involved but from a charting perspective, silver is the way to go for better returns," he said.
"Silver is the trade because it has much more leverage. It is coming from a lower price," he said.
In a commentary piece to CNBC Tuesday, Guppy argued that if silver can break through $18.75 per ounce it can then move towards a longer upside target of $26.00, offering investors a potential gain of more than 36 percent from current levels.
Jody Gunzberg, Global Head of Commodities and Real Assets at S&P Dow Jones Indices told U.S. Squawk Box Friday that industrial metals are often heavily affected by the value of the U.S. dollar.
"Nickel, lead, copper and silver are all highly sensitive to a drop in the dollar," he said.
"So for every cent drop in the dollar, we have seen a 6 or 7 percent rise the price of those metals," she said.