Peter Schiff isn’t alone in saying silver is extremely undervalued right now. In fact, one analyst believes silver offers a ‘once-in-a-decade opportunity.’
In a report published at MarketWatch, Investing Haven lead analyst Taki Tsaklanos said investors need to look at silver’s fundamentals.
We are bearish for 2017. But essentially, we see a once-in-a-decade opportunity in the gold and silver market.’
Analysts say basic supply and demand will drive the silver market in the future. Total silver mined in 2016 fell by 0.6% to 885.8 million ounces. Silver scrap supply fell to 139.7 million ounces in 2016, despite higher silver prices. It was the first decline in overall silver production since 2002.
Gold Forecaster founder Julian Phillips told MarketWatch silver supply in 2016 was dropped to its lowest since 2013, silver production was down last year for the first time in 14 years, and the market saw a supply deficit for a fourth year in a row in 2016.
Silver ignores its fundamentals or it would be now climbing.’
This post was published at Schiffgold on JULY 17, 2017.