The Odds Just Went Up EXPONENTIALLY! Gold & Silver Prices Will Get Crazy High in 2024 – Peter Krauth
Peter Krauth’s analysis of silver’s technical breakout highlights its potential significance, especially considering its long-term trend dating back to the 1980 high. The repeated challenges to the 28—to 30-dollar level and the potential establishment of a new floor above 30 dollars could signal a notable turning point for silver prices.
With silver nearing 2021 highs, there’s anticipation for a potential breakout above the 30-dollar level, particularly considering an inverted Head and Shoulders pattern targeting higher prices. Heightened geopolitical risk in the Middle East and persistent inflation concerns contributed to silver’s recent ascent. However, a correction followed the strong rally in May as bullish traders unwound their long positions.
Krauth also points to increasing demand for silver in solar panel manufacturing, especially in countries like China and India, as a key driver of future growth. The forecasted rise in solar panel production and technological advancements requiring more silver per panel suggests a reversal of the previous trend of “thrifting” in silver usage.
In 2023, Chinese silver industrial demand surged by 44 percent to 261.2 million ounces, primarily driven by growth in green applications like photovoltaic panels. China’s rapid expansion of PV production, which accounted for over 90 percent of global panel shipments last year, further underscores the growing demand for silver.
Moreover, Indian silver demand is experiencing a significant surge, with imports skyrocketing by 260 percent in February, reaching a record high of 2,295 tons. This surge in Indian silver buying could potentially support global price trading, which will be near its highest levels in three years.
Peter Krauth’s analysis of the silver market’s supply-demand dynamics is comprehensive and compelling. He emphasizes the persistent deficit, which has consistently driven prices higher over time. His data, including forecasts for mine supply and demand, underscores the ongoing imbalance between supply and demand.
According to the Silver Institute, silver is expected to remain supported by record industrial usage and a supply deficit despite a solid start to the year. Over the three years from 2021 to 2023, there has been a cumulative deficit of 474 million ounces, highlighting the structural imbalance in the silver market. This imbalance is expected to persist beyond 2024, as the Silver Institute citing Metals Focus indicates, primarily due to significant and expanding industrial demand for silver.
Krauth highlights the widening gap between forecasted and actual supply-demand figures in the silver market, indicating structural imbalances. Industrial solid demand, notably from the solar sector, surpasses mine production, tightening the supply-demand balance and boosting prices.
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Waaaaa hoooo About time.
The ceiling for silver is really based on what can the world afford to pay for it in the products we use daily. It’s naive to think that it will be in the $100’s per ounce. That would drive prices too high for our daily use items. I also feel that the gold price to silver price ratio means nothing and is no longer rational to use to predict the silver price. Gold is taking off one reason (predicted collapse of the US dollar/BRICS) and silver for a different one (perceived future manufacturing shortage). Timing is somewhat coincidental. Future silver price is higher than today but the question is how much can the world afford to pay? My guess is around $35-$40 per Oz. Over the next year.
Currency devaluation . Supply and demand .
Scarceity.
Currency collapse.
Inflation.
War.
Will silver cripple the US millitary Industrial Complex?
What if the banks outlaw gold and silver again?
solar panels are an abomination to the environment better get the silver and use it as money.
Silver will make u feel good……but need to be careful……..slowly stack…..otherwise…..the manipulators will come in to disturb the prices……
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