How to accurately predict the trend of spot silver?

At present, unlike the downturn in other investment fields, the spot silver investment market is showing a hot atmosphere, and many investors bring funds into the spot silver investment market.

For novice investors, a good attitude is certainly the basis for entering the market, and how to predict the trend of silver prices is also the basis for entering the market.

Next, we will take stock of the five major supply factors for the forecast of spot silver price trends:

(1) Growth of spot silver inventory on the ground

There are currently about 137,400 tons of spot silver in the world, and the stock of ground silver is still growing at a rate of about 2% every year.

(2) Annual supply and demand of spot silver

The annual supply and demand of spot silver is about 4,200 tons, and the annual output of spot silver accounts for 62% of the annual supply.

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(3) New gold mining cost

The average total cost of spot silver mining is slightly lower than US$260 per ounce. Due to the development of mining technology, the development cost of spot silver has continued to decline over the past 20 years.

(4) Changes in the political, military and economic status of the spot silver producers

Any political or military upheaval in these countries will undoubtedly directly affect the quantity of spot silver produced in that country, and in turn affect the supply of spot silver in the world.

The main purpose of spot silver has gradually changed from important reserve assets to metal raw materials for the production of jewelry, either to improve the country's international balance of payments or to curb international gold prices.