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Silver continues to face growth problems amid increasing possibilities of a rate hike. But Metals Focus said the decrease below $ 25 ounce exaggerated the weakness of the market.
On Wednesday, analysts from Metal Focus reiterated their positive outlook for silver, presenting upward projections for the end of the year. They said they see the recent selling pressures as more strategic than fundamental, labeling the sharp drop in COMEX long positions as player tactics.
And with the Fed's hawkish tilt in monetary policy, investments will most likely surge later this year, which will accordingly lead to a good rise in silver prices. This means that investors should not be afraid of an increase in interest rates.
Metal Focus also pointed out prevailing paper demand for silver, which suggests that investors were taking advantage of discounts on the physical metal. Their recent survey indicated that sales of silver bullion coins in North America and Europe have jumped 48% and 22%, respectively.
Industrial demand also continues to increase, thanks to the introduction of green energy.
So, in the future, with the maximum introduction of green energy, demand for silver will most likely increase even more.
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