When the minimum wage is $1,000 per hour silver may be $1,000 per ounce. There is little demand for silver and there enough silver to meet any foreseeable demand. Therefore, while silver may increase in price and might even double in price provided there is enough inflation, silver may drop in price. Within the year 2021 silver could go as low as $15 dollars per ounce or it double in price.
When the minimum wage is $1,000 per hour silver may be $1,000 per ounce.
If MW and silver track equally upwards, silver should trade at ~$3000/oz assuming that there's any correlation between the two (there's not).
Within the year 2021 silver could go as low as $15 dollars per ounce or it double in price.
Damn, that's a hard call. It's hard to predict what's going to happen in CrazyWorld. I'd bet on ownership of AU being outlawed if there's a significant upward move.
I don't see silver going up much more than inflation because there is a lot of silver and not much demand since the two prior big uses--money and photography, is almost none existent. 2% percent of people may have silver eagles but 60 years ago every American over the age of 5 and many other people throughout the world had silver coins that was commonly used as money.
But the facts of the matter are silver has been shorted in an attempt to keep the price artificially low.
There is certainly something going on when APMEX and JM Bullion don't have any silver in stock except for so call numismatics where the premium is so high that that the price is double the listed price of silver. And, where TD Ameritrade, Interactive Brokers, and no doubt other future brokers will not permit you to take delivery.