Gansu Xirui Commodity Trading Center Financial Management
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r First of all, the Greek aid agreement negotiations have achieved satisfactory results, which is the core force supporting silver prices recently, because the improvement in European debt means that the euro rebounds and the dollar falls, thus Pushing gold and silver prices upward. Looking at the market outlook, the economic fundamentals of Eurozone countries and the debt problems of other Eurozone countries still cannot be ignored. This is a double-edged sword for the gold and silver market. Loose monetary policy and risk aversion will provide support for gold and silver. However, if debt continues to deteriorate, extreme risk aversion will eventually drag down the trend of precious metals.
r Secondly, financial advisory institutions stated in a mid-term silver market review report that silver prices will rebound sharply this year and are expected to break through record highs of around US dollars per ounce. On the one hand, concerns surrounding easing measures may boost investment demand for silver. On the other hand, industrial demand for silver is expected to increase this year.
r Increased investor demand for precious metals caused silver prices to soar to record highs in 2018. Increased silver mine production and declining industrial demand once led to a glut of silver supply, which also led to investment demand taking the lead. The price situation is getting more serious. Fearing that the loose monetary policies implemented by global central banks will lead to the devaluation of paper currencies, investors have rushed to buy safe-haven assets and precious metals such as silver. Investors' bargain hunting will bring support to silver prices at around US dollars per ounce. At the same time, it was pointed out that the economic outlook is expected to steadily improve, the automobile industry and manufacturing industry will gradually improve, and the optoelectronics industry will also be stable and grow in 2020, so the industrial demand for silver is expected to increase in 2020 and 2020. It is estimated that silver consumption in the industrial sector is expected to grow to nearly 100 million ounces in 2020, and is expected to continue to grow to a record high of 100 million ounces in 2020. Industrial use of silver is expected to account for 20% of total consumption, reaching an annual high.
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