2021-09-01 21:46:39
#SILVER #XAGUSD
Unlike gold , it cannot be reused (only with large losses), and therefore its amount is constantly decreasing. Most of the demand for this precious metal, namely 60%, comes from industry.
Silver is limited, which means that its value will increase significantly every year. According to forecasts, based on the rate of silver production - the world's reserves of this precious metal may theoretically be exhausted within 15 years.
If we look at most of the large-scale, global crises and the reaction to the precious metals market, we will see that demand has only increased. Silver is an excellent tool for diversifying a long-term investor's portfolio.
The growth potential is incredible in the long term, speaking of an investment of 10 years or more.
Technically:
There is a clear uptrend. A Cup and Handle pattern is forming on the monthly chart. Also, the 50-100-200 moving averages have recently crossed. It is a strong buy signal. Link
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