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Most likely you are correct, unless the Feds have finally lost control of inflation and the currency. That being a rare once in maybe 100 or 200 year event, people should not bet on it, but rather should be insured against it. IMHO
Ultimately, the Fed is going to have to choose between an outright recession and possible Great Depression or inflation. When all is said and done, I think they will back off after the Market falls 15%-20%.
Silver usage is normally split 2:1 for industrial+consumer use to investment/precious metal. So I've often thought about it more as a rich man's copper than a poor man's gold. But recently it has been neither :-/(
IMHO, Silver demand and price should do better then Gold and Copper should do better then Silver in terms of demand going forward..
As EV production increases, quite dramatically next 2-3 years +, Copper demand is projected to explode and supply is going to be a big question.. There are enough research reports on demand vs. supply, new or lack of big discovery and lead time to develop the mines etc..
But for now, it is all very subdued as if nothing is going to change..
I've heard that EVs should increase demand for silver, but I've never seen any hard data as to how much silver is used in an EV.
Have you seen any hard data on forward demand for silver? I am looking for something along the lines of each EV uses X amount of silver while each ICE uses Y amount, therefore the net effect will be Z.
Edit - there are some numbers floating around for silver use in EVs, but they all come from the silver CEOs. I am looking for something from a metals analyst.