Will silver continue to rise
Total global silver demand is forecast to climb by 8% to a record high of billion ounces this year, according to the Silver Institute. Moving forward, the silver price is expected to hold above US$20 for the rest of the year, supported by inflation, uncertainty and negative real. The most likely way silver will go up is if a major market correction occurs while the economy is under the effects of soaring inflation in the. FOREX REPORTS ANALYSIS CENTRE Help Learn have a Community portal configure a. We strongly way teams work with in this browser for. The file requests is.
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The falling gold-silver ratio and unprecedented monetary easing will prompt a strong upside in prices. Therefore, we expect MCX silver prices to trend higher towards Rs 55,Rs 57, in the second half of the year. Currently, the MCX silver is trading at Rs 51, per kg. Reproduction of news articles, photos, videos or any other content in whole or in part in any form or medium without express writtern permission of moneycontrol.
Register now! Silver will continue to rise on strong demand, may hit Rs 57k in 2H CY20 The rising investment inflows into silver are likely to continue in the second half of Moneycontrol Contributor. View more. Related stories. Tags: Commodities Expert Columns silver price today. Trending news. Silver will continue to rise on strong demand, may hit Rs 57k in 2H ED makes third arrest in Bengal coal mining money laundering case.
Oil edging higher supported by the prospect of a tight market. Desktop Version ». Global demand for silver is reaching all-time highs as the precious metal is used in many emerging industries such as renewable energy , solar power, and other important green initiatives used to fight climate change.
Silver is also used in the making of mobile phones , which is soaring worldwide as almost everyone depends on one in their daily life. Due to these factors, it is expected that the demand for silver will continue to rise steadily for much of the foreseeable future. One of the biggest contributors to the potential rise in the price of silver is inflation.
Although the demand for silver is continuing to rise, the production of silver took a big hit during the pandemic. Many silver were forced to shut down, and most of them are still not back to full working capacity. And even though new measures have recently been taken to get the many mines back up and running safely, much of the production is still struggling, causing a supply bottleneck.
The rising demand coupled with insufficient supply is a tell-tale case for understanding if silver prices could go up. Historically, in times of geopolitical tension, silver prices have increased. Right now, the war between Russia and Ukraine is shaking the global economy and its effects are already being felt here in the US. As their supply has now been completely cut off from the US, it is likely the silver price will rise. Additionally, Taiwan considers itself an independent nation, while China claims Taiwan is a part of its nation state.
If this tension escalates between China and Taiwan, we could see an exponential increase in the cost of silver per ounce as political tension would rise rapidly across the globe. Part of the impact of the pandemic has been the challenge of transporting goods all over the world.
Since the global supply chain of silver is no longer able to get the precious metal delivered in the same manner as pre-pandemic, many businesses may need to pay higher prices for silver to meet their production expectations. The most likely way silver will go up is if a major market correction occurs while the economy is under the effects of soaring inflation in the next 10 years.
Growth of this level has already occurred once in recent history, during the s, where the price of silver skyrocketed over the course of one decade. Not only will inflation likely raise the price of silver, but more investors could seek precious metals like silver, which could also drive its price up.
Even if the Fed figures out how to control our current inflation crisis, the US national debt is still looming over us. When bondholders push the US to pay higher interest rates, those rate hikes could trickle down to the average American consumer, which could push investors to turn to silver as a defensive asset with high growth potential.
As the stock market gets more and more overheated and overvalued, investors might be looking for different ways to protect their portfolios from a serious market crash. Do you want to know more about how you can acquire silver to diversify your savings?
Contact one of our precious metals specialists today. They are standing by to assist you in acquiring silver for your Precious Metals IRA or direct purchase. Historical Silver Price Performance. Get Your Free Silver Guide. You might also like… Featured article Asset Prices Dropping. Related articles The US Dollar.
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