Silver Prices Surge as Analysts Warn of Depleting Inventories and Growing Consumer Demand
Peter Krauth, a silver market analyst and author of “The Great Silver Bull,” predicts an imminent silver shortage due to rising demand across various applications.
According to Krauth, the current silver demand outpaces supply, with only 12 to 24 months of inventory remaining. He highlights that large silver consumers are depleting secondary inventories from major futures markets and ETFs, which have seen a 40% drop in the last three years. If this trend continues, Krauth expects above-ground inventories to collapse, causing silver prices to surge.
Additionally, he notes that Chinese consumers are paying premiums to secure silver, potentially exacerbating the shortage in Western markets. Other analysts, like Peter Schiff, also foresee a significant rise in precious metals prices, urging investors to capitalize on the expected bull market.
Clever Robot News Desk 18th June 2024
