PREPARE! The Next Leg of Silver's Explosive Breakout Will Shatter All Records - Vince Lanci
Vince Lanci, a respected commodities trader and market strategist, has recently highlighted the potential for silver to experience a significant breakout in the coming year. Lanci’s analysis and current market trends indicate that silver is set for a significant breakout, potentially reaching 40 dollars within the next year. He notes that during the last major credit impulse, silver gained 6 dollars, suggesting a similar rise could occur now, particularly with China's ongoing fiscal stimulus driving demand.
This aligns with broader market fundamentals, which show silver's price already climbing by over 30% this year, driven by strong industrial demand and supply shortages. A 215 million-ounce supply/demand deficit, combined with increased precious metals holdings by Russia and growing silver demand from China and India, further underscores the bullish outlook.
Moreover, the Federal Reserve's interest rate cuts have made precious metals more attractive as investments. This has supported silver's current price of around 32 dollars and its potential to rise to 38.14 dollars by the end of 2024, with 40 dollars becoming a realistic target next year.
Interestingly, Lanci has noted that silver has recently outperformed gold, rising 8.63% over the past month compared to gold's 3.75% gain. While gold has been the top-performing asset class globally, according to Michael Hartnett of Bank of America, silver is now surpassing it in terms of performance.
Despite gold setting multiple record highs this year and drawing significant attention, its "sister metal," silver, has also been on a strong upward trajectory, outpacing gold in recent months. Gold has captured the spotlight with its impressive performance relative to a red-hot stock market, but silver has quietly followed suit, with a 29% rise year-to-date, matching gold's percentage gains.
Vince Lanci discusses the anticipated "dollar crush," predicting that its effects will soon become more prominent as the Federal Reserve cuts interest rates. He forecasts a 50-basis point reduction before the election, followed by a potential additional 25-basis point cut.
This aligns with the Fed's recent announcement of a 50-basis point interest rate cut—the first in four years—marking a significant policy move ahead of the presidential election on November 5.
This rate cut reflects ongoing inflation concerns and aims to bolster economic growth while stabilizing the labor market. Fed Chairman Jerome Powell has indicated that inflation is approaching the 2% target, and the labor market is less tight than in 2019. Additionally, strategists anticipate two more rate cuts in 2024, with reductions possibly extending into 2025. Such monetary easing may contribute to a decline in the dollar and increased interest in precious metals like gold and silver.
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