Will silver prices hit 30 again in 2021? [Video]
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Metal prices are booming across the board with everything from Palladium, Iron Ore to Copper, trading near multi-year highs.
This week, Iron Ore broke $200 a ton for the first time ever, while Palladium broke above $3,000 to hit an all-time record high. Elsewhere, Copper prices surged to a fresh 10-year high and have now doubled from the lows seen a year ago.
And then there’s Silver, which is once again starting to attract a lot of attention – on a scale not seen since the global financial crisis in 2008.
There is a lack of Silver around the world. There is not much Silver at any refineries and getting your hands on physical Silver is becoming increasingly difficult. In fact, Silver is now rarer than Gold, which means there is a risk of a real Silver squeeze this year.
And let’s not forget the whole ‘Green Energy Revolution’, which is currently taking shape across the global economy.
Silver is a key component in everything from electric vehicles, renewable energy to solar power technology. However, supply is limited, which further supports the bullish case for Silver prices in the medium to long term.
As governments around the world pursue more aggressive Green Energy and Infrastructure policies to reach net-zero carbon emissions by 2050 or sooner – this alone will continue to be a major driver of Silver demand for years to come.
Where are prices heading next? Watch The Commodity Report now, for my latest price forecasts and predictions:
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