Notice: Markets are extremely volatile and volume is very high. Thank you for your patience with shipping delays.

Free Shipping!

Menu

Biden's Proposed Green Deal Would Push Silver To $50

Biden Silver

EDITOR NOTE: Even if you don’t share his political vision, perhaps a Biden win might not be so bad after all. How so? If you’re an advocate of sound money, a Trump or Biden win would send gold and silver higher. Among the two, Biden will likely be a stronger catalyst. According to analysts, Biden’s “green stimulus” spending can push silver well past $35 an ounce, possibly running up as high as $50. So, even if you don’t share his political sentiment, you’re likely to get a win in terms of wealth potential, given that you allocate your investments properly.

Already surging silver prices could get a big boost if former Vice President Joe Biden wins the 2020 election and pieces of the Green New Deal are put into action, according to strategists at Bank of America.

Biden has championed portions of the climate plan, which calls for the U.S. to reach net-zero carbon emissions by 2050.

A switch to more renewable sources of energy – including solar – would have to be a big part of the plan, and silver is a key ingredient in solar panels.

SILVER PRICES POISED TO OUTSHINE GOLD

“Investors help, but industrial demand ultimately moves the needle” for silver prices, wrote a team of Bank of America strategists led by Michael Widmer.

Silver has already surged 51% this year to $26.87 an ounce as investors flocked to the precious metal as an alternative store of value during the COVID-19 pandemic. An increase in industrial applications of silver, however, would catapult prices even higher.

Annual silver demand, which is currently 2,285 tonnes, could increase by 87 percent to 4,272 tonnes over the next 15 years if the U.S. power sector alone accelerated its de-carbonization efforts, according to the strategists.

They believe the surge in demand would have the potential to “push silver into a sustained deficit,” which last occurred between 2006 and 2011 and resulted in silver prices reaching a near-record high of $48.58 an ounce in April 2011.

The strategists think “green stimulus” could push silver to $35 an ounce next year and that the precious metal could take another run at the $50 level over the medium term.

Originally posted on Fox Business

book-image-bank-failure

GET YOUR FREE

BANK FAILURE SURVIVAL GUIDE

  • This field is for validation purposes and should be left unchanged.

All articles are provided as a third party analysis and do not necessarily reflect the explicit views of GSI Exchange and should not be construed as financial advice.

Precious Metals Data, Currency Data , Precious Metals Automated Product Pricing Powered by nFusion Solutions