World Silver Survey 2021 is forecasting silver demand to achieve an eight-year high this year of 1.025 billion ounces. That is an 11% rise.
Silver’s industrial demand is projected to post a four-year high in 2021 of 510 Moz, a 9 percent increase over 2020 figures.
This demand is going to come from the electrical and electronics sector.
The pandemic pushed the need for 5G technology, more sophisticated computing systems, and more powerful servers. All devices and machines used for these products are powered by silver.
Gold, on the other hand, is projected to average above $2000 this year by London Bullion Market Association.
Peter Grosskopf, chief executive officer of Sprott, a global investment firm specializing in precious metals, said that soaring debt ratios in major economies and “monetary and fiscal stimulus leading to increases in the money supply” are the top two factors for gold’s rise.
Truth be told, gold and other precious metals always exceeded expectations.
Last year, gold outperformed major assets including S&P500.
With our global economy at a major crossroad, I am expecting gold to land on top again.
Stocks have always been the choice of investors to grow their wealth. We aren’t financial advisors. We can’t advise you on what to invest in or what not to invest in.
We are just here to deliver facts that could help you make the right financial decision.
Precious metal, specifically gold, has consistently thrived through all economic crashes.
Silver, gold, palladium, and platinum’s industrial uses are being discovered and rediscovered as we continue to evolve to become a more connected society, economically and politically.
Precious metals won’t just hold up their value, they will increase in value.
So, if you want to protect your investment, invest in precious metals. It remains to be the best protection against inflation, and another economic challenge.