Gold's record-setting rally may have captured headlines this year, but silver is stealing the show with a more impressive performance. Silver has surged by over 25% this year, outpacing gold and becoming one of the year's top-performing major commodities. Silver prices have soared past $30 per ounce, reaching their highest level since 2013, driven by a potent mix of robust financial and industrial demand.
However, legendary investor Alasdair Macleod highlights a significant concern regarding China's role in the silver market. Despite securing its position as the world's second-largest silver producer in 2024, with an output of 3,600 tonnes, China has seen only a modest increase in production. The Chinese government, recognizing silver's strategic importance, has collaborated with JP Morgan to manage and suppress silver prices, allowing for continued accumulation at favorable rates. Yet, India's rapid economic growth and expanding production of photovoltaic cells are now challenging this control. Indian companies are increasingly investing in silver to meet manufacturing demands, leading to a notable surge in silver deliveries on the COMEX, with approximately 1,500 tons delivered since January.
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Credit: As Good As Gold Australia
Alisdair Macleod: Banking Chaos - Silver Explosion Inevitable! Trainwreck Like Never Before
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