"The US Geological Survey (USGS) is issued by the Department of the Interior, and the Interior Secretary is Doug Burhum, former governor of North Dakota. The USGS identifies roughly 60 minerals that have been determined to be crucial for US security and economic viability for manufacturing and other purposes.. Mineral examples usually include rare earth minerals (batteries), iridium and palladium (defense), germanium and silicon (semiconductors),uranium (nuclear energy), and copper, aluminum, and other industrial use minerals."
"For the past seven years, silver production has fallen short of demand. Unlike gold, in which the vast global majority of refined bullion is usually kept in storage vaults owned by central banks, silver is an essential manufacturing component of a wide range of essential products. A short list includes: Solar panels Flat screen LCD displays Smart phones EVs Semiconductors Batteries medicines"
"The futures market, which has kept silver prices artificially suppressed for decades, finally cracked with October's backwardation in London. Physical demand now controls the silver markets. Buying escalation from central banks and ETFs, fearful of fiat currency debasement driven inflation from oversupply, has added to the supply pressure, driving prices even high"
The US Geological Survey (USGS) identifies roughly 60 minerals as critical for US security and economic manufacturing needs, with silver added to the list in November. The Interior Secretary is Doug Burhum. Multiple technological, geopolitical, and economic factors underlie silver's critical status. Silver production has fallen short of demand for seven years while industrial uses such as solar panels, flat-screen LCDs, smartphones, EVs, semiconductors, batteries, and medicines consume large shares. Solar panels account for roughly half of annual silver consumption. The futures market showed backwardation in October, and physical demand plus central bank and ETF buying has driven prices sharply higher.
Read at 247wallst.com
Unable to calculate read time
Collection
[
|
...
]