The end of 2016 saw the iShares Silver Trust (NYSEArca: SLV) and the ETFS Physical Silver Shares (NYSEArca: SIVR) stumbling with the dollar surging Treasury yields being spiked. After the disappointment, some investors are expecting better things in the context of the white metal in 2017.

While the equities market plunged into a correction, silver and other precious metals enjoyed a safe-haven demand. The white metal reportedly maintained its momentum with the Federal Reserve lowering the interest rate outlook, from a previously expected four rate hikes to only two hikes this year.

This year, the Federal Reserve is looking at three interest rate hikes, and some market observers feel that there is an upside in the context of the white metal.

According to ETF Daily News, the silver prices had reached a generational high in 2011, and in coming years would see a collapse even further. Apparently, the crushing deflation would see low prices for real estate, bonds, gold, and silver.

Also, the white metal has a much higher industrial demand than gold—this heavy industrial demand for precious metal benefits from an ever-expanding global economy.

Moreover, investors could turn towards the precious metal as a more stable form of wealth, with the ongoing negative interest rate environment. The central banks of Europe and Japan cut benchmark rates deeper into the red reportedly to promote growth.

This year the silver ETFs could further be bolstered by its demand from India. Previously, India has tried to curb gold imports to support the rupee and thus lower its account deficits. Market observers also believe that small substitutions of gold to silver by Indian citizens may see a relative upside for the white metal.

ETF Daily News also noted that currencies are usually created by increasing debt, backed by confidence, hope, and faith, and added that exponentially increasing debt was not sustainable.