Mennica Skarbowa has noted a rapid increase in investor interest in silver, with sales of the bullion increasing by more than a dozen per cent in recent months compared to the same period last year. The company’s experts forecast that the price of silver could very soon exceed USD 40 per ounce level. With the price of gold remaining high, the valuations of platinum and palladium are also expected to rise.
The growing demand for silver is not only driven by investors’ fears of inflation and economic turmoil, but also by the metal’s rising importance in the green energy and high-tech sectors. Silver is used, for instance, in the production of photovoltaic panels, batteries and electronic components – which is further driving the global demand.
– We are currently observing rising interest in silver as a form of capital preservation. Recently, kilogram bars and investment coins such as “Maple Leaf” and “American Eagle” have been particularly popular. Sales of this bullion have increased in our country by several per cent compared to last year. Silver has been undervalued for several years. I predict that the price of USD 40 per ounce of this bullion will soon be broken – comments Adam Stroniawski, Managing Director of Sales at Mennica Skarbowa.
In the opinion of the Mennica Skabowa’s experts, the increase in silver prices is only the beginning of a broader trend that also includes other precious metals. Platinum and palladium – metals important for the automotive and technology industries – are also expected to increase in value. Rising mining costs and limited supply of these raw materials could push their prices even higher on global markets.
– Gold is currently very expensive, which is why many investors are directing their attention to other metals. Silver, platinum and palladium are becoming more attractive, especially in the context of diversifying investment portfolios. The worsening geopolitical situation together with further changes in the monetary policies of the major central banks may be the accelerating factor for this growth – adds Adam Stroniawski.
