Silver Eagle Sales Blow Pass 30 Million & Prepare For Fireworks As Investment Demand Surpasses Industrial Demand

U.S. Silver Eagle sales this year are RED HOT pushing total silver investment demand to record highs. According to the U.S. Mint’s most recent update, Silver Eagle sales in 2020 have surpassed 30 million and may continue to increase over the next few weeks in December. Also, for the first time ever, total silver investment demand exceeded industrial demand by a wide margin.

So, for the analysts who continue to harp on “Industrial Demand” as an important factor for the silver market to focus on in the future, I say… RUBBISH. And, if you have been reading my analysis for several years, I’ve stated over and over again, that industrial demand will become less of a driver of the silver price in the future.

Thus, when I read the Zerohedge article, Saxo Bank, 2021 Will Be A “Reality Check On Extend-And-Pretend” – Saxo Bank Unveils Its ‘Outrageous Predictions’ For The Year Ahead, quoting the following about silver in 2021.

Sun shines on silver, which sizzles on solar panel demand

2021 brings the usual suspects that power silver higher on its hard asset/precious metal side as the US dollar weakens, and as investors are faced with the harsh reality of no relief in sight from negative real interest rates. This is exacerbated as inflation suddenly jolts higher in 2021, and policymakers are slow to respond, wanting to offer maximum support for their still-recovering economies. With a Covid-19 vaccine in rapid rollout by the middle of the year, the excessive liquidity and over-easy policy drives a powerful bid into any hard asset.

Turbocharging the rise in the silver price in 2021, even relative to gold, is the rapidly rising demand for silver in industrial applications. In fact, a real silver supply crunch is on the cards in 2021, and it frustrates the full-throttle political support for solar energy investments under a Biden presidency, the European Green Deal, and China’s 2060 carbon-neutral goal, among other initiatives.

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