It's FINALLY STARTED! What's Coming for Gold & Silver Prices Will SHOCK THE WORLD - Andy Schectman
It's FINALLY STARTED! What's Coming for Gold & Silver Prices Will SHOCK THE WORLD - Andy Schectman
In a surprising turn of events, several financial experts and institutions forecast a substantial increase in silver prices over the coming months and years. This bullish outlook is driven by a combination of factors, including inflation expectations and the metal's industrial applications.
Andy Schectman, a renowned business strategist and financial expert, has weighed in on the situation. His assessment is based on forecasts from major financial institutions, particularly Citibank. According to Schectman, Citibank's chief analyst is projecting silver to reach 35 dollars per ounce in three months and climb further to 38 dollars within six months.
Adding credence to this bullish sentiment, UBS, another prominent financial services firm, has also raised its silver forecasts. The firm now predicts silver will hit 36 dollars per ounce by the end of 2024 and maintain that level through March 2025. In a move that further underscores their confidence in silver's potential, UBS has introduced a new forecast for June 2025, setting an ambitious target of 38 dollars per ounce.
Michele Schneider, director of research, shares an equally enthusiastic outlook on silver. Her bullish stance is rooted in two key factors: inflation expectations and silver's industrial usage. She emphasizes that it's not too late for investors to consider jumping into mining stocks and focusing on silver investments. With strong conviction, Schneider predicts that silver prices could reach the range of 35 to 40 dollars an ounce.
Schectman notes that ten years ago, gold was priced at 1,200 dollars, and today, it stands at 2,650 dollars, which he attributes to the dollar's decline rather than an appreciation in gold's value.
Recently, gold has climbed above 2,650 dollars as demand for precious metals surged ahead of the weekend, signaling a strong rebound after a recent pullback. This swift recovery underscores that the current bullish trend for gold remains intact, reinforcing Schectman’s view on the dollar's erosion driving up gold prices.
Andy Schectmen has shed light on the significant silver accumulation by three major global powers: Russia, India, and China. This trend will likely have far-reaching implications for the global silver market and could potentially drive higher prices. Sachmen reports that the country has recently imported over 800 million ounces of silver.
To put this into perspective, India imported an impressive 3,625 metric tons of silver last year alone. This growing appetite for the precious metal from one of the world's largest economies is expected to support global silver prices, which are already hovering near their highest levels in over a decade.
China, another key player in the global silver market, is also making strategic moves. In 2021, China produced 3,400 metric tons of silver, cementing its position as the world's second-largest silver producer after reclaiming the ranking from Peru in 2020. However, what's particularly noteworthy is China's approach to securing silver supplies.
Schectman also points out that China has directly purchased silver concentrate and dore bars from Latin American miners. This direct procurement strategy bypasses commercial banks and exchanges, indicating a calculated effort to secure silver amidst increasing global demand.
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