Park Avenue Numismatics
5084 Biscayne Blvd, Suite 105
Miami, FL 33137
Toll Free: 888-419-7136
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Will the silver shortage lead to higher prices?
2.13.24 - Will the silver shortage lead to higher prices?
Gold last traded at $1,992 an ounce. Silver at $22.12 an ounce.
Silver Set To Rise To $30 This Year, But Where Is Momentum? -Investing Haven
A recent physical silver market research report suggests silver to hit $30 in 2024. This seems a very low silver price target considering a silver supply deficit, bullish secular silver chart, silver relative to gold undervaluation.
Should the price of silver not be closer to $50 given the supply deficit?
The Silver Institute released its latest physical silver market report, about a week ago.
In summary, while silver demand is forecasted to remain robust, supply is expected to increase slightly, leading to a physical silver market shortage.
Demand Forecast: Global silver demand is projected to reach 1.2 billion ounces in 2024, potentially the second-highest level ever recorded. This growth is driven by stronger industrial offtake and is expected to hit a new annual high, propelled by increased industrial end-uses and a recovery in jewelry and silverware demand.
