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Innehållsförteckning / Table of Contents
The demand for the solar power sector and the growing importance in the auto sector will be two critical factors driving the silver price for the next three years, said Bank of America.
The bank’s analysts believe that silver usage could rise to 3500t by 2025, from around 2000t in the past decade.
The bank sees silver prices ending at around 32.50 US dollars per ounce as the market sees falling supply and growing industrial demand.
Hill said that gold could trade between $2,500 to $3,000, and Silver could rise to $50 an ounce in the next two years.
Hill explained why he is so bullish on the commodity sector. “Commodity stocks like mining and energy companies will do great because people will continue to use their products. ” Hill pointed out that commodity prices are skyrocketing and tend to do very well during inflationary cycles,” Hill pointed out.
He also had some interesting thoughts about inflation. Hill predicts it will keep rising. “The latest Consumer Price Index report was at 7.9% for February. We will see next month’s numbers even higher because it didn’t account for rising gas, food, and other prices across the board that we have seen since the outbreak of the Russia-Ukraine war,” Hill stressed.
“I wouldn’t be surprised if we see double-digit inflation in next month’s numbers.”
*Red lines are downtrend. The heavy red line is the long-term trendline.
*Green lines are uptrend. The heavy green line is a long-term trendline.
*Blue lines are short term support & resistance lines
(Picture 1. Trendline & Support/Resistance)
(Picture 2. RSI divergence)
In conclusion, the long-term silver price remains very strong due to the uncertainty of the global situation and, most importantly, the need for Silver in production.