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Supply shortages are driving a market deficit for silver, and the implications are significant for investors looking to capitalize on the precious metal’s future trajectory.
According to the latest report from the Silver Institute, global silver demand has consistently outpaced supply for three years in a row, leading to a projected deficit of 215 million ounces by 2024.
What’s causing this shortfall? A combination of increasing industrial consumption and limited new mine production. Despite the price of silver climbing from $13.30 per ounce in 2016 to over $31 today, production still lags behind its peak in 2016 by 62.8 million ounces.
But that’s not all. The Bloomberg NEF report also sheds light on a broader shortage in key transition metals that could further drive up silver prices. The report suggests that a staggering $2.1 trillion investment will be needed by 2050 to ensure a stable supply of raw materials essential for clean energy technologies.
Without this crucial investment, the costs of vital metals like aluminium, copper, and lithium could experience a sharp spike by 2030. As a savvy investor, staying informed about these trends and market dynamics is crucial for making informed decisions and maximizing your returns.
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