Will Silver Run Out?
Will Silver Run Out?
If these trends in silver supply and demand continue, we’ll face a dramatically worsening scenario in just a few years and could run out of silver by 2020. The global silver market could be facing a deficit of 126 million ounces a year by 2020. That deficit will have to be filled somehow.
Is Silver getting rare?
Market Prices That being said, silver is currently considered a very rare and undervalued above-ground precious metal. By undervaluing this precious metal, the supply costs will remain low and the profits will remain high.
Will the price of silver go up in 2021?
“The outlook for the silver price in 2021 remains exceptionally encouraging, with the annual average price projected to rise by 46 percent to $30,” it said in a statement. “Given silver’s smaller market and the increased price volatility this can generate, we expect silver to comfortably outperform gold this year.”
What does the future of silver look like?
In September, CIBC bank also predicted the metal to appreciate, estimating silver prices to reach $32 per ounce in 2021, and then slide to $31 per ounce in 2022 and $30 per ounce in 2023. As for the shorter-term, the commodity is expected to average at $28 per ounce in Q4 2020.
How much is silver really worth?
MONEX Live Silver Spot Prices
| Silver Spot Prices | Today | Change |
|---|---|---|
| Silver Prices Per Ounce | $25.90 | +0.02 |
| Silver Prices Per Gram | $0.83 | +0.00 |
| Silver Prices Per Kilo | $832.68 | +0.64 |
Why is silver so cheap?
On the other hand, silver has more industrial use cases than all other precious metals today. That helps give it some more value, and also helps offset the imbalance between supply and demand. More silver to go around means that its price will be cheaper, untilt hat situation reverses all of a sudden.
Are silver prices up or down?
Live Silver Price
| Period | Change ($) | Change % |
|---|---|---|
| 30 Days | +0.99 | +3.93% |
| 6 Months | +1.48 | +6.02% |
| 1 Year | +10.82 | +70.94% |
| 5 Years | +9.11 | +53.70% |
