Will silver catch up with gold? Webinar on Wednesday at 19:00 p.m

Silver, Near gold i platinum remains the most popular precious metal among retail investors, institutions and central banks alike. How important silver is nowadays can be seen in the enormous increase in Polish silver reserves - by almost 100. tone. Silver is also used in the production of photovoltaic panels, which, given the growing pressure on the energy transformation, may be a long-term price driver.

Just 13 years ago, silver prices reached almost USD 50 per ounce, but a significant oversupply on the market of the precious metal led to a significant correction on the chart. Nevertheless, the silver market has been facing a growing deficit for 3 years now, which will most likely continue. Mine production, which is a key factor for the silver balance, increased in 2023, but it was an increase of only 2%. Taking this into account, a silver valuation of around USD 25-30 per ounce seems justified in the coming years.

Discovered silver reserves in the world increased significantly last year, from 550 thousand Tons up to 720 thousand tone. More importantly, Poland is currently the leader in having the largest silver reserves in the ground, at 170. tone. Increase in the amount of silver in possession ETFs has decreased by more than ⅔ since 2020. However, the correlation between silver purchases by ETFs and the price of this metal, which has been clearly consolidating since 2020, has also decreased.   

An analyst will answer questions about this market next Wednesday, January 24 XTB Michał Stajniak, CFA.

Will silver catch up with gold?

Looking at the silver market from a technical analysis perspective, it should be noted that the metal's prices are near an important support level. Given the current price of gold - quite low by recent standards - silver seems to be an attractive choice. Investors looking for long-term exposure to the precious metals market cannot ignore the use of silver in photovoltaics. Taking into account the ongoing energy revolution and the efforts of many governments to increase the share of renewable energy in the overall energy mix, silver seems to be an interesting alternative to other precious metals.

He will answer questions about the future of silver prices and the potential of this market next Wednesday, February 21 at 19:00, analyst XTB and the holder of the prestigious CFA title, Michał Stajniak.

Take part in a free online meeting and find out:

• What threats await the silver market?
• Industrial demand and the precious metals market
• Given demand hopes and supply threats and competition from cryptocurrencies, will silver be able to catch up with gold?

A new series of online meetings for investors

Wednesday's meeting inaugurates a completely new series of thematic webinars that every investor will appreciate. Every month, XTB analysts will look at the most interesting assets on the commodity market. During the thematic online meeting, both the fundamental situation of the selected market - natural gas - will be discussed. oil, gold, wheat and others - as well as its technical side.

About the host

Michał Stajniak - Raw Material Market Analyst in XTB. It places particular emphasis on the linkages between the behavior of commodity prices and the currencies of economies heavily dependent on exports of commodities such as oil, iron ore, gold and powdered milk. He is the author of frequent comments comparing commodity price indices with currency pairs such as AUDUSD, NZDUSD, USDCAD, USDNOK, or EURNOK. He represents XTB in the media (including TVN24 BIS, Polsat News, TVP Info, Bankier TV or Onet TV) and is the author of articles in the financial press such as Parkiet, Puls Biznesu and Dziennik Gazeta Prawna. He is a practitioner of the stock market and the derivative market. In his approach, he values ​​fundamental analysis above all, but often uses Fibonacci levels to determine the demand and supply zones needed in a Price Action strategy. A graduate of Quantitative Methods in Economics and Information Systems at the Warsaw School of Economics.

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