Silver Surges to $100 per Ounce Amid Demand from Solar and EV Sectors
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 1h ago
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Source: Coinmarketcap
- Surge in Demand: Silver has reached $100 per ounce, primarily driven by the solar and electric vehicle sectors, highlighting the strong demand for renewable energy and the impact of a structural supply deficit.
- Market Transformation: Silver's market value has surpassed Bitcoin's, which saw a 30% drop in market cap to $1.84 trillion, reflecting increased investor interest in silver, particularly in technology and energy sectors.
- Long-term Price Stability: Experts predict that silver's demand will remain high due to its essential role in technology applications, and the ongoing supply deficit may lead to sustained high prices, creating a permanent market deficit.
- Market Signal: Anya Sharma, Head of Commodities Research, emphasizes that the surge in silver prices signals a collision between monetary demand and explosive physical demand from technology and energy sectors, indicating a profound market transformation.
Analyst Views on BTC
Wall Street analysts forecast BTC stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for BTC is USD with a low forecast of USD and a high forecast of USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
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About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
