Metals

$50 Ounce Silver In Near-Term, 400% Increase In Silver Demand!!

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from Silver Report Uncut:

$50 An Ounce Silver In The Near-Term, Massive Silver Deficit Meets 400% Increase In Silver Demand

VIDEO:

I wanted to go over Bank of America’s prediction that silver will reach $50 an ounce. The reason is is the big push towards green energy a lot of the US carbon emissions they are generated by energy mainly the consumption of fossil fuels and the only possible way to reduce them to the levels that they’re asking at this point is photovoltaic cells. or solar panels now Bank of America they brought up demand they also brought up the dwindling supply of physical silver as we run a silver deficit year after year they touched in the fact that the last time we had such a strong deficit was between 2006 and 2011 and during that time silver reached $50 announced they said that that’s likely to happen this time around they do anticipate we will break through $35 an ounce in the near-term but then moving forward as we convert our nation’s energy Supply over to solar or wind the demand for silver they anticipate will increase 400% around 4,000 metric tons of silver compared to an average of 1100 tonnes we have used. The past 5 years now 2020 and also had a ton of silver demand we’ve consumed around 2,200 tons of silver so far in 2020 and the year is not over. exploration is something that has been dwindling since we have been stuck in this Price law for about 10 years we also know that the bullion dealers are having a terrible time trying to maintain enough Supply to meet their customers demand. now there’s already a large Divergence between the paper price of silver and the price of physical silver around $36 an ounce is what you’ll be paying if you want to get a silver eagle into your hand at this point from all of the top bullion dealers. this is because the US Mint has limited production of gold and silver eagle coins the only possible place for them to obtain a supply is from the general public and people are unwilling to give up their silver for less than spot prices most of the bullion dealers at this point are paying around $3 over spot to buy silver from the public hence the major premiums. now the thing is the spot price of silver is significantly lower than the supply-demand market or the physical market and this means that the spot price is probably going to rise honestly people have never treated the comex as a gold market and taking physical delivery the way they have so far in 2020 and this is probably due to the fact that it’s so difficult to obtain physical precious metals. physical silver is so critical to manufacturing and so critical to a green energy conversion that they may just nationalize silver because of its extreme importance and the lack of supplies. really $50 an ounce silver doesn’t seem too far-fetched at this point because we’ve reached the stage of who actually has the silver and what are they willing to pay and a lot of the times people are not paying too much attention to the spot price of silver it’s irrelevant and that’s because the supply-demand fundamentals are so strong for precious metals.

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