Triple Digit Silver! Your Gold & Silver Stack Is About to Become Quite 'Priceless' - Keith Neumeyer

Triple Digit Silver! Your Gold & Silver Stack Is About to Become Quite "Priceless" - Keith Neumeyer

Based on the current state of the silver market, Keith Neumeyer, Founder and CEO of First Majestic Silver, believes that silver prices will soar to triple digits and explains what this means for the mining industry. He expresses that silver demand is expected to hit 1.4 billion ounces in 2024, while annual production is only 830 million ounces. Despite this gap, he is optimistic about rising silver prices and future increases. The silver supply deficit for 2024 is projected to exceed 2023 due to insufficient silver production. It is also argued that deducting net investments in silver exchange-traded products exposes the market's deficit.
Estimating mining production to increase by around 4% and consumption to be between 1.2 and 1.4 billion ounces, it is attributed to a demand surge for technological advancements like electric vehicles, solar panels, and wind turbines, all of which rely on silver. Hence, there is a prediction of a substantial supply shortfall.
Neumeyer predicts that despite rising prices, the mining sector will struggle without government support. He emphasizes the need for long-term price stability to boost production. Inflation constantly pushes up costs and puts pressure on miners' economics. They may face tremendous stumbling blocks along the way from governments, capital markets, Indigenous activists, eco-fanatics, union bosses, and many others.
Only a couple of mining companies—First Majestic Silver and SilverCrest Metals—have held back a meaningful amount of their production in the past ten years, though.
In his assessment, Keith Neumeyer compares the current market to 1999-2000, predicting that big money needs to shift from large-cap stocks to the mining sector.
Turning to silver, the World Bank analysts noted that the gray metal's prices surged 12% higher in April than the prior month after seeing a stable and less dramatic Q1. "This recent increase in silver prices, mostly attributed to the recovery of industrial activity and some of the factors influencing gold prices, brought the gold-to-silver price ratio closer to its 10-year average," they said.
Keith Neumeyer discusses the influence of silver's short-term price on reserve calculations, noting that banks typically use a three-year average for long-term projections. He expresses skepticism towards JP Morgan's raised silver price target of 34 dollars, suggesting that the bank's motives in the silver market are questionable.
There have been two bull markets since 2020. First, on 25 March 2020, the price bottomed out at 13.96 dollars as governments began restricting personal and business freedoms in response to the COVID-19 pandemic. The price rose above 28 dollars by September of that year.
Then, from its September 2022 price of 17 dollars, the price has risen and remains over 30, so we're still technically in a bull market.

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[AngelEyes-xmel]

I agree in 2010 my son said it should be 500 in 2020. I wish it was true. Started stacking again as little as I could.

[kiko-wv]

The price of silver should be 7 times less than gold, God law.

[Judson-pv]

😎stack sats and relax
go for a walk, get some sun,
the money changer criminals are only cursing themselves

[johnhiggins]

All bullshit same old same old for 20 years. And I own the garbage regretfully.