🚀 𝗣𝗿𝗲𝗰𝗶𝗼𝘂𝘀 𝗺𝗲𝘁𝗮𝗹𝘀 𝘁𝗼 𝘀𝗵𝗶𝗻𝗲 𝗯𝗿𝗶𝗴𝗵𝘁𝗲𝗿 𝘁𝗵𝗿𝗼𝘂𝗴𝗵 𝗛𝟮 𝟮𝟬𝟮𝟰.
At the start of 2024, the Silver Institute predicted that silver demand would rise to 1.2 billion ounces through 2024. With a fourth straight year of structural deficit and rising industrial demand, International Banker says this could be the start of an extended bullish environment for the white metal. Next-gen solar cells that require more silver, and recovery in jewellery demand are lending support to silver prices.
Peter Krauth, the renowned silver market analyst, also explained that silver inventories could run out in the coming 12 to 24 months. This further emphasises impending upside for the highly conductive and malleable metal.
Gold, on the other hand, had a spectacular 2023 and impressive 2024 due to US rate cut speculations, economic uncertainties and geopolitical tensions. The yellow metal set a new record, exceeding the $2,500 mark in the second week of August and registering growth of about 21% YTD. Wall Street expects the precious metal to soar to $3,000 before settling around $2,600 by the middle of 2025.
This is a great opportunity for traders to diversify their portfolios. As a broker, making the necessary data, analysis, and liquidity accessible to your traders is key to encouraging market participation. The entry barrier to the bullion markets is higher than for other commodities. This is where you can offer gold industry stocks, CFD trading and index trading to allow your traders to gain exposure to precious metals.
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