Silver’s breakout during the 2nd quarter of this year was arguably one of the most exciting events in the commodities market this year.
While the outlook for global equities looks very shaky, especially after recent trading sessions this week, silver looks like it could be a beacon of stability in the markets.
Silver could have multi-pronged catalysts ahead of it in 2024 and 2025. Many people may turn to silver as a safe haven asset, causing the demand for physical silver to surge. At the same time, the robust growth of the solar and EV industry also promises to be a major catalyst for silver in the coming years.
The rally in silver stocks has taken a very brief pause, largely due to concerns over the global economy and demand side concerns. However, the main catalyst, which may be overlooked by many, is the massive undersupply in the market, which has been taking place for years. This supply deficit could send silver equities soaring, even if demand is not stellar.
Despite the numerous catalysts ahead, silver mining stocks have still slightly underperformed the S&P 500 this year. H2 2024 looks like a wonderful time to swoop in and take advantage of this potential upcoming rally, which could send the price of silver back to multi-decade highs.
Read more to learn about why we think the silver market has much more room to rally in the next year.
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