2024-04-22 23:32:44 ET
Summary
- Silver's bullish run may be just beginning after a price breakout in March-April, following a period of high lease rates.
- A tight physical market since 2020, with stagnant global supplies failing to match rising demand, is quickly reducing global inventories.
- There exists real potential for silver to outperform gold gains during 2024-25, driven by spiking solar panel manufacturing needs.
- $100 to $150 an ounce of silver is possible in 3-5 years.
My regular readers know I have been very bullish on silver for about 18 months. Finally, the breakout and run higher may have begun in earnest during March-April. My last article on silver's bullish setup in January here explained the striking phenomenon of historically high lease rates. Such suggested immediate tightness in the physical silver supply/demand marketplace. Basically, the most constructive lease-rate picture (high and inverted rates) since late 2008 existed at the beginning of 2024. In terms of predictive power, silver rose almost +400% (priced in U.S. dollars) over the next three years, between 2008-11....
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For further details see:
SLV: Any Silver Price Decline Is A Gift, Multi-Year Bull Just Started