100% Certainty! Silver Is About to 'Shatter' All Records & Expectations - David Morgan

100% Certainty! Silver Is About to 'Shatter' All Records & Expectations - David Morgan

In his 2024 outlook for silver, renowned expert David Morgan foresees a positive trajectory for the precious metal, projecting a potential price range of $40 to $50 in the coming year. The recent 2% surge in silver prices to $24.82 per ounce, the highest since September 1, attests to the market's responsiveness, buoyed by a 1.9% increase on the previous Friday. This marks the second consecutive weekly gain, fueled by weakened US data, a decline in the dollar, and easing US treasury yields. Notably, silver's rally is underpinned by improved demand in China.
Morgan underscores the sustained industrial demand for silver, emphasizing its resilience despite a projected deficit by the Silver Institute. Global silver demand is anticipated to dip by 10% in 2023, reaching 1.14 billion ounces. Industrial applications, particularly in sectors like photovoltaics, remain robust, offsetting declines in other key segments and contributing to historically high demand levels.
The 2023 figures, although reflecting a decrease, stand as the second-highest in Metals Focus' data series, highlighting the metal's enduring appeal. Despite economic challenges, the strength in industrial off-take maintains silver's demand at elevated levels, perpetuating a market deficit.
Morgan's analysis extends beyond silver, suggesting a parallel trend in gold. He envisions a gradual progression, with sophisticated investors and institutions gradually entering the market, eventually triggering a rush from the general public towards gold. This pattern is reminiscent of a "run to Gold" phenomenon, starting with central banks and cascading down to broader market participants.
In October, reported global net purchases totaled 42 tons, reflecting a 41% decrease from September's revised total of 72 tons. However, this figure still stands 23% above the monthly average of 34 tons of January-September. Notably, the Central Bank of Uzbekistan added 11 tons, and the National Bank of Kazakhstan’s 2 tons contributed to a higher sales volume, underscoring the ongoing dynamics in global gold markets.
David highlights the potential impact of solar projections on the demand for silver, noting that solar is expected to constitute 14% of total silver consumption this year, a significant increase from 5% in 2014. However, this heightened demand is encountering a supply challenge. He also suggests exploring junior producers during their downturn, anticipating value growth as gold and silver prices rise.
The momentum in gold is exemplified by reaching a new all-time high of 2,152.30 dollars on December 4. This surge has sparked interest in exploration companies, particularly smaller-cap firms that have proven lucrative for shareholders. Notably, all the stocks discussed in this context had market caps above 10 million Canadian dollars at that time, underlining the continued relevance of precious metals in the investment landscape.

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[Crazyrat-zc]

I bought some more yesterday I might buy some more on Monday. Too excited let the price go lower. Hallelujah.❤❤❤❤❤❤❤❤❤❤❤❤❤❤

[GLang-kqlw]

most likely not too soon, silver will quicker move down to $ 20 than breaking $ 30

[MENSA.lady]

London Silver price today about $23 per Oz. If it tops $40 I will take my profit and run. I won't be alone.

[tk-lfny]

I WOULD LIKE TO SEE LODE PAY BY SHINING SILVER IN THE VAULT UNTIL AN ACCOUNT OF 100 OUNCE BARS, CAN BE KNOWN, KEEP IT SIMPLE STUPID. IT IS INSURED BY LOYDS OF LONDON BUT IT COST TO FIND OUT HOW MUCH IS THERE . ? WTVF, ., WE CAN GET A PAPER NAPKIN PICTURE OF A PROJECT CONCEPTION BUT NO PICTURE OF PHYSICAL SILVER AND GOLD . ?