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Like copper, silver is heading inexorably towards a supply crunch but the market doesn't seem to be paying attention. Demand is soaring, especially in areas such as solar panel production, while supply is stagnating. The silver market was undersupplied by 237.7 million ounces in 2022 and there will be further undersupply this year and there is no reason to think that undersupply won't continue until mine production increases substantially. This imbalance will inevitably lead to higher silver prices.However, I think silver will fall to around US$20/oz as it continues to track gold's current bearish turn. But sooner or later reality will take control of the silver market and I believe that we will see a bullish silver price that will eventually take us to all-time highs.
Like copper, silver is heading inexorably towards a supply crunch but the market doesn't seem to be paying attention. Demand is soaring, especially in areas such as solar panel production, while supply is stagnating. The silver market was undersupplied by 237.7 million ounces in 2022 and there will be further undersupply this year and there is no reason to think that undersupply won't continue until mine production increases substantially. This imbalance will inevitably lead to higher silver prices.
However, I think silver will fall to around US$20/oz as it continues to track gold's current bearish turn. But sooner or later reality will take control of the silver market and I believe that we will see a bullish silver price that will eventually take us to all-time highs.
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