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Precious Metals: Silver Prices Poised to Skyrocket in 2016

Wednesday, December 23, 2015 7:47
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(Before It's News)

Here’s Why I’m Bullish on Silver Prices

Silver prices remain down for the year, but don’t look away from the fundamentals. They suggests the precious metal could soar. Don’t be shocked if silver prices see a massive move in 2016 and beyond.

You don’t really have to be a rocket scientist to understand what’s happening in the silver market. We have a very basic economic problem at hand. The demand is soaring and due to lower silver prices, supply is facing severe headwinds. This is a perfect recipe for higher prices.

We have been paying significant attention to major silver production regions and big silver mining companies. Saying the least, we see an outright collapse in production of the gray precious metal. This could have a major impact on silver prices. Basic economics suggest that when demand rises and the supply declines, prices shoot up.

Silver-Producing Region Reporting Dismal Figures

Consider this, in the first nine months of 2015, U.S. mines produced 821,000 kilograms of silver. In the same period a year ago, this figure was 862,000 kilograms. According to some simple math, silver production in the U.S. declined close to five percent. (Source: “Mineral Industry Surveys,” U.S. Geological Survey, last accessed December 21, 2015.)

Look at Canada, too. There’s a massive decline in silver production there as well.

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