The Big 4 traders are short about 110 days of world silver production...up about 2 days from last week's report. The ‘5 through 8’ large traders are short an additional 51 days of world silver production...down 1 day from last week, for a total of about 161 days.
The Silver Institute projects silver demand will grow by 2 percent in 2024, with industrial demand posting another all-time high. This will likely lead to the fourth straight annual structural market deficit somewhere in the neighborhood of 215 million ounces.
Brickman says, "I don't want to see silver break out yet, because it will be a brave new world, and not necessarily one we will enjoy. As an investor, we long for that day. The reality is, it's coming."
Murphy discusses a bullish future for silver, emphasizing its potential to surge past $30 once it breaks free from market manipulation, echoing gold's trajectory.
Silver prices have finally begun playing some catchup to gold. Perhaps speculators in the futures market have finally begun paying attention to fundamentals like supply and demand.
If the market plays out as expected, we'll see another significant market shortfall this year, totaling somewhere in the neighborhood of 215 million ounces. That would rank as the second-largest market deficit in more than 20 years.
Despite the big selloff Friday, the spot price of silver had its first weekly close above $28 since 2013. It's possible the shorts and price manipulators are out of runway.
Brickman says that investing in silver isn't solely for wealth accumulation but rather as insurance against volatility, highlighting the metal's potential to skyrocket unpredictably.
The Fed may very well be willing to throw whatever inflation-fighting credibility it still has out the window in order to try to give the economy a boost.
