The world faces a significant platinum supply shortfall due to record industrial demand.
According to a report by the World Platinum Investment Council (WPIC), the platinum market faces a 1.07-million-ounce deficit in 2023. The supply shortfall is expected to extend into 2024.
With two years of significant market deficits, we will likely see upper pressure on platinum prices.
Silver demand was at record levels in 2022 and there is reason to believe it will continue to run hot over the next several decades. One reason is the rapidly increasing demand for silver in the green energy sector. In fact, an Australian study projects solar cells may use most of the world’s silver reserves by 2050.
There are reasons to be bullish on silver, not just because of its role as a monetary metal and inflation hedge, but also due to its importance as an industrial metal. Doug Casey recently talked about silver’s many uses and what it means for the future with International Man.
Rising demand for solar panels pushes silver prices higher according to a recently released university study.
Researchers at the University of Kent found a “causal relationship” between solar panel demand and the price of the white metal.
