JJP - Will Strong Demand And Tight Supply Keep Prices Shining? (Technical Analysis)
2024-07-13 05:08:00 ET
Summary
- Silver prices have risen due to a supply and demand gap, with demand outstripping supply for the fifth consecutive year.
- Industrial demand, driven by green energy, AI, and EVs, now accounts for 64% of global silver demand.
- A potential slowdown in China’s economy and prolonged high interest rates could dampen silver prices.
- Bullish Pennant pattern breakout hints at further upside. Will inflation data halt the move?
By Zain Vawda
Silver prices have seen a remarkable rise this year, and with six months still to go, many are wondering just how high they could climb. One key factor to watch is the supply and demand dynamics, as demand for silver continues to outstrip supply....
Will Strong Demand And Tight Supply Keep Prices Shining? (Technical Analysis)