Silver: Best Performing Asset in H124, But Far From Finished Rising
$Silver - main 2409(SImain)$ : Best performing asset in first half 2024
Silver stocks benefited greatly from the strong silver price.$iShares Silver Trust(SLV)$ $Pan American Silver(PAAS)$ $Endeavour Silver(EXK)$ $ProShares UltraShort Silver(ZSL)$ $Fortuna Silver Mines(FSM)$ $MAG Silver(MAG)$ $Global X Silver Miners ETF(SIL)$ $Sprott Physical Silver Trust(PSLV)$
Below are some of my points relate to $Gold - main 2408(GCmain)$ and $Silver - main 2409(SImain)$
After the US Dollar $USD Index(USDindex.FOREX)$ became the global reserve currency, $Gold - main 2408(GCmain)$ still has a role as one of the global reserve currencies.
For example, we have recently seen that the People's Bank of China has been buying gold for nearly two consecutive years to replenish its gold reserves.
At the same time, we have also seen that the global gold price continues to rise.
The entire market is also telling us that when the economy develops and our entire reserves increase, even if gold is no longer the most important means of payment, as part of the reserves, it will still passively rise.
This explains very well why gold will rise with economic development.
At the same time, we have also seen that the United States is printing more US dollars, and the Federal Reserve's balance sheet has increased from 800 billion US dollars in 2008 to 8 trillion US dollars now.
The balance sheet of the European Central Bank is larger than that of the Federal Reserve, and the People's Bank of China and the Central Bank of Japan are not far behind.
The balance sheets of all countries are getting bigger, not only for loosening money and easing, but also for the needs of economic development.
Now we also see that a new revolution - the fourth industrial revolution is unfolding, which is the AI revolution.
But the consequence of this new industrial revolution is that the demand for money will definitely increase.
Therefore, gold is a reserve currency. Whether you are printing paper money to adapt to this new era or according to the law of history,
I think that precious metals such as gold and silver are far from finished rising.
What's your favorite commodity stock or sector for H2-2024?
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- cheezi·07-09Awesome analysisLikeReport