Silver Prices Could Hit $80-$85 This Year, Analyst Predicts

Peter Krauth, a well-known precious metals analyst and author of 'The Great Silver Bull', has projected that silver prices could reach $80 to $85 per ounce before the end of the year. This forecast is based on several key factors, including a persistent supply deficit in the silver market.

The supply deficit has been ongoing for several years, with mine production struggling to keep pace with rising demand from the solar energy sector and other industries. Additionally, industrial demand from electronics and electric vehicles adds further pressure on available supply.

Krauth also points to a favorable macroeconomic climate, with central banks signaling a shift towards monetary easing and lower interest rates. This typically reduces the opportunity cost of holding non-yielding assets like silver, attracting investment demand as investors seek a hedge against inflation and currency debasement.