Welcome to Extreme Investor Network, where we provide you with the latest insights and information on the stock market, trading, and investment opportunities. Today, we are seeing a significant trend unfolding in the precious metals market, specifically with Silver.
While Gold and Copper have been stealing the spotlight with prices hitting all-time highs, Silver is starting to make waves as traders anticipate it to be the next metal to explode in value.
According to the recently released World Silver Survey, 2024 is shaping up to be a pivotal year for Silver. The report highlights that there has been a consistent shortage of Silver for the past five years, with 2024 being one of the most intense in terms of supply and demand imbalances.
In 2023, Silver demand outpaced supply, resulting in a structural deficit of over 142 million ounces. This shortfall is projected to nearly double to 265 million ounces by the end of 2024, driven by the surge in industrial demand for Silver.
Traditionally, Silver demand has been evenly split between industrial and investment purposes. However, there has been a noticeable shift towards industrial usage in recent years, with industrial demand now accounting for 64% of the total global demand for Silver, up 19% from the previous year.
This unprecedented imbalance in supply and demand is fueling speculation that Silver prices are on the brink of a major surge. With the industrial sector showing no signs of slowing down its consumption of Silver, the potential for explosive price growth in Silver remains high.
Stay tuned to Extreme Investor Network for more updates on this developing trend in the Silver market and other investment opportunities that could help you maximize your returns. Join us as we navigate the ever-changing world of finance and investment together.