David Morgan of TheMorganReport says they expect silver, “the lowest precious metal on the planet”, to finally surpass the $30 mark by 2022, outperforming the price of gold. David Morgan’s market comments and forecasts Cryptocoin. com we have prepared for its readers.
“Silver, not gold, has more potential”
“I think the individual demand for silver will increase because the stock market is starting to sell,” said David Morgan, continuing his assessment as follows:
10 years go through the golden cross, we start to see more uncertainty in the market, and then if the cryptocurrency market starts to rise, it decreases. We will see much more interest in precious metals. So I think these three things are synergistic to push the metals higher.
David Morgan adds that industrial demand continues to provide winds to blow the sails into 2022:
electrification. So anything electrical or electronic will likely be the main driving force. Solar panels will likely play a big role. As fossil fuels hit the ‘energy gap’, renewable energy sources such as solar will play a larger role in power generation.
David Morgan states that the industrial side of the United States aside, there is not enough silver to bring solar power to the United States housing market and comments:
In other words, all business activities in the United States that require electricity will require about two years’ production of all the silver we mine on the planet. It takes about a year of silver to introduce solar energy to all homes.