Commodities Analysis by Investing.com (Damian Nowiszewski) covering: XAG/USD, Silver Futures. Read Investing.com (Damian Nowiszewski)'s latest article on Investing.com
Increasing demand in electronics and renewable energy sectors and geopolitical tensions have propelled silver toward 2021 peaks
These factors suggest that the current surge in demand may be part of a broader uptrend that could eventually break through 2021 highs.The Silver Institute predicts global silver demand to reach 1.2 billion ounces this year, outpacing the supply of 1.02 billion ounces, resulting in another deficit year.
On the supply side, Mexico holds the largest share of the global market, followed by China and Peru. Although the supply may see a slight increase in the coming years, it is unlikely to keep pace with accelerating demand.lean towards interest rate cuts later in the year, the FOMC members' hawkish stance and strong US economic data have sparked uncertainty..Silver bulls are currently driving the rally after it broke through a key resistance level of around $26 per ounce.
Now, InvestingPro users can do just the same from the comfort of their own homes with our new flagship AI-powered stock-picking tool: ProPicks.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Bitcoin Correction Could Deepen - Bulls Eye $60k Level as Next Key Buy ZoneMarket Analysis by Investing.com (Damian Nowiszewski) covering: BTC/USD, Bitcoin. Read Investing.com (Damian Nowiszewski)'s Market Analysis on Investing.com
Read more »
EUR/USD Eyes 1.07 Support With CPI, ECB on Tap - Is Now the Time to Short?Forex Analysis by Investing.com (Damian Nowiszewski) covering: EUR/USD. Read Investing.com (Damian Nowiszewski)'s latest article on Investing.com
Read more »
Gold Futures Soar to Historic Highs: Eyes on Inflation, GDP Data for Next MoveCommodities Analysis by Investing.com (Damian Nowiszewski) covering: XAU/USD, XAG/USD, Gold Futures, Silver Futures. Read Investing.com (Damian Nowiszewski)'s latest article on Investing.com
Read more »
Canadian Dollar to Follow Crude Oil Higher? Watch for Break Above This Key BarrierForex Analysis by Investing.com (Damian Nowiszewski) covering: USD/CAD, US Dollar Index Futures, Crude Oil WTI Futures. Read Investing.com (Damian Nowiszewski)'s latest article on Investing.com
Read more »
Cocoa Prices Go Nuts, Coffee Might Follow Suit SoonCommodities Analysis by Investing.com (Damian Nowiszewski) covering: US Coffee C Futures, US Cocoa Futures, London Robusta Coffee Futures. Read Investing.com (Damian Nowiszewski)'s latest article on Investing.com
Read more »
Gold, Silver Price Update: XAU/USD Rises on a Softer Dollar, Silver WithersGold appears upbeat at the start of the week, although, the current move higher is already showing signs of slowing. Silver continues to trade lower, testing a well-known level
Read more »