Phil Carr
The Gold & Silver Club
This week, President Joe Biden unveiled his ambitious $2.3 trillion Green Energy and Infrastructure spending plan, calling it a “once in a generation” investment.
Fresh from passing a $1.9 trillion stimulus bill – President Biden has now turned his attention to a similarly massive plan of investment into infrastructure, which means that the U.S is going to need more commodities.
America requires Copper, Palladium, Cobalt, Lithium and rare earths for batteries. Above all, it needs Silver – and lots of it.
Silver will go into the electric vehicles that President Biden has said he’ll buy for the government fleet, in the charging stations to power them and in the cables connecting new wind turbines and solar farms to the grid.
Now, here's where things get interesting.
There is a lack of Silver around the world. There is not much Silver at any refineries and even getting your hands on physical Silver is difficult. In fact, Silver is now rarer than Gold, which means there is a risk of a real Silver squeeze this year.
Silver is a key component in President Biden’s ambitious Green Energy and Infrastructure plan. Based on our proprietary research, photovoltaic demand for Silver could exceed 3000 tonnes in 2021 – and that’s just the beginning.
As the U.S and other 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:
Trading has large potential rewards, but also large potential risk and may not be suitable for all investors. The value of your investments and income may go down as well as up. You should not speculate with capital that you cannot afford to lose. Ensure you fully understand the risks and seek independent advice if necessary.
Recommended Content
Editors’ Picks
USD/JPY jumps above 156.00 on BoJ's steady policy
USD/JPY has come under intense buying pressure, surging past 156.00 after the Bank of Japan kept the key rate unchanged but tweaked its policy statement. The BoJ maintained its fiscal year 2024 and 2025 inflation forecast, disappointing the Japanese Yen buyers.
AUD/USD consolidates gains above 0.6500 after Australian PPI data
AUD/USD is consolidating gains above 0.6500 in Asian trading on Friday. The pair capitalizes on an annual increase in Australian PPI data. Meanwhile, a softer US Dollar and improving market mood also underpin the Aussie ahead of the US PCE inflation data.
Gold price keeps its range around $2,330, awaits US PCE data
Gold price is consolidating Thursday's rebound early Friday. Gold price jumped after US GDP figures for the first quarter of 2024 missed estimates, increasing speculation that the Fed could lower borrowing costs. Focus shifts to US PCE inflation on Friday.
Stripe looks to bring back crypto payments as stablecoin market cap hits all-time high
Stripe announced on Thursday that it would add support for USDC stablecoin, as the stablecoin market exploded in March, according to reports by Cryptocompare.
US economy: Slower growth with stronger inflation
The US Dollar strengthened, and stocks fell after statistical data from the US. The focus was on the preliminary estimate of GDP for the first quarter. Annualised quarterly growth came in at just 1.6%, down from the 2.5% and 3.4% previously forecast.