Silver Market on the Brink of a Mega Breakout
The silver market is currently presenting a strong buy signal and is poised for a mega breakout soon. Global demand for silver is massively rising, driven by trends in decarbonization, e-mobility, and high-tech electronics. These sectors require large quantities of silver, such as for solar PV installations, AI hardware, and electric vehicles. According to Metals Focus, a record demand of 1.21 billion ounces is projected for 2024 – the second highest value since records began.
Limited Supply and Technical Scenario
At the same time, mine supply remains tight, further pushing the market balance into deficit. This is a clear advantage for investors and companies like Silver Tiger Metals Inc. (WKN: A2P4YL), which can benefit from this supply scarcity.
Technically, silver is currently trading in a narrow range around $36.60 with a formation (triangle) indicating a significant upcoming price impulse. A breakout is expected, supported by a weaker US dollar that will further fuel the price increase.
Forecasts and Investment Opportunities
UBS has raised its forecast and sees the silver price reaching up to $40 per ounce by 2025 – an increase of around 26 percent has already been recorded since the beginning of the year. Additionally, substantial funds are flowing back into silver-backed ETFs.
Conclusion: The strong industrial demand driven by sustainable technologies as well as technical indicators point to a strong price increase for silver. The stock of Silver Tiger Metals is regarded as particularly promising for investors looking to invest now.