"Opportunity of a Century! Silver Will Make You "Very Rich" in 2024 - Alasdair MacLeod

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“OPPORTUNITY of a CENTURY! Silver Will Make You “Very Rich” In 2024 -Alasdair MacLeod

Gold’s upward trajectory continues to impress, with a fresh record high of USD 2,426 achieved this week, showcasing robust market momentum. However, relative strength indicators suggest signs of an increasingly overbought condition, indicating potential caution ahead. Meanwhile, silver has made significant gains, boasting an impressive 18% increase year-to-date, marking a notable shift in a market that has largely traded sideways for the past three years. Analysts attribute silver’s rise to a combination of investment and industrial demand, drawing parallels to copper, another industrial metal experiencing upward momentum due to tight market conditions.

The surge in industrial demand for silver is particularly noteworthy, with China emerging as a key driver of this trend. Alasdair Macleod points to China’s longstanding focus on silver as an industrial metal, dating back to 1983 when the People’s Bank of China established a dual mandate regarding gold and silver. Unlike gold, which traditionally serves a monetary role, silver is primarily valued for its critical role in manufacturing photovoltaic cells and lithium batteries.