1.3 Billion Ounces of Silver Will Be Required This Decade

This week, Wall Street Silver ‘queen’, Kristina Partsinevelos was back on CNBC covering tough times of late for silver prices.

If you watched the end of our SD Bullion market update from last week, you would know that the Biden administration has their sights set on a massive US energy grid solar panel buildout, which would acutely spur silver solar panel demand in the USA through this decade the 2020s.

Bloomberg New Energy Finance (BNEF) is a leading provider of strategic research on the supposed low-carbon energy transition unfolding.

They recently ran silver solar panel demand numbers on a global scale, and they claim over 1.3 billion ounces of silver will be required this decade.

For fun a few weeks ago, I asked about one thousand Twitter followers the following question.

Apparently, we either add a 0 to the current silver spot price, or governments can go source their silver solar panel needs from the minuscule global silver refining and silver mining industries.

It was a choppy sideways up then down week for silver and gold spot prices. This past week started with a three-day Chinese Mid-Autumn Festival holiday. More on that in a minute.

The gold spot price closed the week just above the $1,750 oz level price in full fiat Fed notes.

The silver spot price ends the week right around where it started, just over $22 fiat Fed notes per troy ounce spot.

The gold-silver ratio remains at 78.

Yesterday I got this silver price chart emailed to me by Lee Justo of Wall Street Silver, and it illustrated the critical price threshold that silver is currently at.

We are also at a similar critical threshold with the gold spot price. The $1.700 oz level is a key number to watch in the weeks upcoming for gold.

This footage was taken this week in China, during the three-day Chinese Mid-Autumn Festival holiday, high-grade gold jewelry buying was said to be strong.

Based on reported physical gold and silver import data, China is steadily buying bullion and high purity gold jewelry.

You can bet Sep 2021 will be a good number too with the recent spot price dip, we also have the early October Golden Week holiday season inventory buying coming up.

The World's workshop always has a steady silver bid for industrial silver usage, not even the now one and a half year pandemic slowed their silver demand as you can see here.

Physical Indian gold demand too... is reported strong of late. Not merely the Indian citizens are buying mass gold, but also the Central Bank of India is buying gold bullion at a record high clip.

Indians & Chinese are always opportunistic gold bullion buyers. They are backing up the truck to buy gold at a perceived price discount.

Perhaps we should consider following the example of our Chinese and Indian brothers and sisters on the other side of this world, and begin backing up the truck for these ongoing silver and gold spot price dips.

That is all for this week's SD Bullion market update. 

As always, take great care of yourselves, and those you love.

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James Anderson
James Anderson
Senior Market Analyst & Content

A bullion buyer years before the 2008 Global Financial Crisis, James Anderson is a grounded precious metals researcher, content creator, and physical investment grade bullion professional. He has authored several Gold & Silver Guides and has been featured on the History Channel, Zero Hedge, Gold-Eagle, Silver Seek, Value Walk and many more. You can pick up Jame's most recent, comprehensive 200+ Page book here at SD Bullion.

Given that repressed commodity values are now near 100-year low level valuations versus large US stocks, James remains convinced investors and savers should buy and maintain a prudent physical bullion position now, before more unfunded promises debase away in the coming decades...