Take a look at these powerful silver and commodity charts.
Silver
June 4 (King World News) – Ronni Stoferle at Incrementum: Silver can also play a significant role as “performance gold”. Silver is experiencing a supply deficit for the fourth year in a row. At 215.4 Moz, the deficit will reach a new record level in 2024. The main reason for this is the ongoing PV boom. This key sector of the energy transition, which is dominated by China, is now the largest demand category for silver, with consumption of 232 Moz. In addition, silver has outperformed gold in 6 of the last 7 bull markets since 1967. However, the price performance of the white metal is still below average to date.
Historically, it was increased investment demand that was decisive for pronounced silver bull markets. In the event of a second wave of inflation, a wave of FOMO could set in, and silver would probably be one of the biggest beneficiaries.
Commodities
The commodity supercycle, which we have regularly pointed out in recent years, has taken a breather, but in our opinion it is still intact. Price increases and supply bottlenecks have brought a potential shortage of resources back into the public eye. Just recently, Nicolai Tangen, CEO of the USD 1.5 trillion Norwegian sovereign wealth fund, warned of a possible shortage of resources and rising commodity prices.
In view of the neglect in the capex cycle, which we described in detail in the In Gold We Trust report 2023,6 we firmly believe that the commodity bull market is only in its early stages. The recent rally in copper and BHP’s takeover bid for Anglo American could be harbingers of the next phase of the bull market.
King World News note: With commodities coiling to head significantly higher over time, this will of course feed into inflation and be yet another bullish catalyst for gold and silver prices. It will also positively impact the grossly undervalued high-quality mining shares.
Celente Predicted Gold & Silver Breakouts
Gerald Celente discusses the historic gold and silver breakouts as well as where the prices of gold and silver are headed and you can listen to it by CLICKING HERE OR ON THE IMAGE BELOW.
Swaps All-Time Record Short Gold
Alasdair Macleod discusses the swaps short position in the gold market reaching an all-time record. Macleod also discusses the remarkable developments in the silver market and you can listen to it by CLICKING HERE OR ON THE IMAGE BELOW.
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