By Damian Nowiszewski
Silver's recent rally has pushed prices to their highest level since 2012.
Key demand drivers, including military and renewable energy sectors, are fueling the metal’s momentum.
Traders eyeing the $35 level are on alert as technical factors hint at further gains.
Supply and demand fundamentals point to continued buying pressure, with forecasts from the Silver Institute projecting a demand of 1.219 billion ounces in 2024, outpacing a supply of just 1.004 billion ounces.
Several key factors are driving this imbalance:
1. Federal Reserve Easing: With the Fed set to continue cutting rates in the coming year, silver—like gold—stands to benefit as lower interest rates fuel demand for precious metals.
2. Renewable Energy and Electric Vehicles: Silver’s role in photovoltaic panels and electric vehicles continues to grow, with no signs of slowing. The push for cleaner energy will keep demand elevated for years to come.
3. Military Industry Growth: Global military spending, spurred by conflicts such as the war in Ukraine, has also contributed to higher silver demand. Silver is a critical material in weapons systems, including missiles, radars, and satellites.
Source: Investing.com
https://www.investing.com/equities/top-stock-losers
