Gigantic $500 Silver Rally! A Deep Dive Into David Hunter’s Silver Price Forecast For 2024 #silverprice
I think that David Hunter’s prediction of $500 silver is not crazy, other experts are projecting higher prices for silver. Some saying $1000 per ounce while others are talking about silver surpassing the gold price. It’s just a matter of supply and demand imbalance and I watched a video or read an article that there will be no silver left to mine by 2030. There is huge demand for silver in every industry plus it’s not easy to recycle silver.
I hope and pray that the correction in the silver market is over and our patience is rewarded soon.
I can see from the sliver charts both in the daily and weekly timeframe that the ongoing correction in silver price may be over. There is a long wick candle both on the daily and weekly candlestick chart. Let’s hope for the best and watch the resistance be broken this time for the next huge upward movement in silver, gold, and the mining sector.
It has been 50 years since Nixon removed the gold backing from the U.S. dollar. Silver price then was $1.29 and gained 3700% to reach a peak of $48 in Jan 1980. The crisis we are facing nowadays is worse than in 1980. I don’t want to go into the details of those things. Based on the five-year low of $11.64 a 37X movement in the price will make silver jump to $430. It took eight years, from Nov 1971 to Jan 1980 for silver to reach 37X with no social media. Considering how powerful social media is these days, I believe that the movement in silver price is going to be way more explosive and will take a much shorter time for the biggest silver squeeze in history to take place.
So, I think that David Hunter’s prediction of $500 silver is not crazy, other experts are projecting higher prices for silver. Some saying $1000 an ounce while others are talking about silver surpassing the gold price. It’s just a matter of supply and demand imbalance and I watched a video or read an article that there will be no silver left to mine by 2030. There is huge demand for silver in every industry plus it’s not easy to recycle silver.
It’s just my opinion based on the charts and the opinions of industry experts that silver will move above $400 soon but honestly, I’ll be happy with silver in the $50 to $60 range because that’s going to make most of the good low-cap silver mining stocks 5 to 10 times higher than their current prices.
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