Can silver price reach 500 USD or 1000 USD per Oz ?

Can silver price reach 500 USD or 1000 USD per Oz ?

Is it possible ?

Yes, silver price can reach 500 USD or 1000 USD per Oz. But the main question is, when it will happen.

The reasons why silver price can reach 500 USD or 1000 USD:

• Silver is a precious metal. The price of precious metals is continually increasing.
• Silver has a high industrial usage. Even higher than gold.

The price of precious metals like gold and silver keep increasing. There is a high probability that price of silver will reach 500 USD or 1000 USD in a mid-term horizon or long-term horizon.

The reasons are:

• Industrial usage of silver is rising.
• The silver market faces supply deficits. Demand is outpacing mine production and recycling for six consecutive years.
• There are some new silver reserves being discovered, but they are not large enough to lower the price of silver.