Silver Demand Surges Ahead | Chart of the Week
An Upward Trend as Supply Struggles to Keep Pace
Investors are starting to realize that the world needs a lot more silver for renewable energy if we are going to meet net-zero goals by 2050.
Silver is the metal attracting some serious attention. Silver was up $1.87 last week (a gain of more than 8%), its best weekly performance since mid-March.
According to some analysts, the headwinds for silver are starting to dissipate. With the Federal Reserve close to its peak rates, silver is benefiting from shifting monetary policy expectations.
At the same time, even in this aggressive monetary policy environment, the economy has been reasonably resilient, which supports silver’s industrial usage. Analysts note that silver should outperform gold if the Fed can thread the needle and achieve a soft landing.