Market Watch: Silver's Scarcity Factor is Helping it Catch up to Gold's Record Run
Article by Myra P. Saefong in Market Watch
While gold prices have repeatedly set fresh record highs this year, silver has been rallying as well — with one analyst predicting that prices for the precious and industrial metal will reach $40 an ounce or more before the end of the year, as supplies continue to come up short of demand.
Fundamentally, silver “has all the right ingredients” for a “melt-up move,” said Peter Spina, president and founder of GoldSeek.com, a website that has provided investors with gold prices, research, and information for nearly 30 years.
“As gold tears higher to new records, the buying pressures on silver grows, as does the fourth year of supply deficits,” he told MarketWatch. The Silver Institute forecasts 2024 total global silver supply at nearly .....