Bank of America: Industrial demand will help silver take off, targeting $40
2025-06-05 11:02:42
On June 5, Bank of America expects the price of silver to reach $40 by the end of this year or early 2026. Francisco Blanche, the bank's global head of commodities and derivatives research, said, < b > "Silver is half precious metal and half industrial use. The nature of the precious metals side of silver has been driving it higher, and the industrial side has been on the back burner, but that will eventually change." Industrial demand for silver hit a record in 2024, leading to a structural deficit in the silver market for the fourth consecutive year. Tariff concerns and supply chain disruptions have created some headwinds, but < b > industrial demand is expected to remain strong in 2025. Mr. Blanche said the growth of the green energy sector, particularly solar, would strongly support the growth in industrial demand for [silver]. "We still expect a lot of investment in solar panels and the electrification of everything, with silver being the best conductor of electricity in the world and playing a key role. Silver will shine again once the environment for industrial activity is more stable."
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