Silver Price Analysis
Silver fell this week, but prices have seen a remarkable rise this year. So the question is just how high they could it climb. One key factor to watch is the supply and demand dynamics, as demand for silver continues to outstrip supply. According to the World Silver Survey, 2024 is the fifth year in a row with a silver shortage. In 2023, silver demand was higher than supply, leading to a market deficit of over 142 million ounces. By the end of 2024, this shortfall is expected to nearly double to 265 million ounces because of increasing industrial demand. I can only imagine this should help with the price which makes my still bullish on the shiny stuff.
Silver Chart
Portfolio Update
My current assets are valued at $2,747.24 with a total acquisition cost of $$2,362.33.
Asset Allocation Chart
Asset Holding by Product