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Is Soaring Industrial Demand in 2024 Ushering in a New Era of Higher Silver Prices?
Manage episode 442392823 series 3410128
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This week silver prices surged past $32 per ounce for the first time in a long time. Was this fueled by growing expectations that the Federal Reserve would continue to lower its benchmark interest rate and escalating geopolitical tensions worldwide, which boosted safe-haven demand.
With the market expected to face a fourth consecutive year of structural deficits in 2024, many analysts see this resurgence as the beginning of a more bullish trend for silver. Much like its counterpart, gold, China’s strong demand for precious metals, including silver, could lead to significant price gains for the metal in the months ahead.
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David Morgan
The Morgan Report
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