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Bloomberg/James Atwood/9-21-2022
“You wouldn’t know it from looking at the market today, but some of the largest miners and metals traders are warning that in just a couple of years’ time, a massive shortfall will emerge for the world’s most critical metal — one that could itself hold back global growth, stoke inflation by raising manufacturing costs and throw global climate goals off course.”
USAGOLD note: Over 25% of the silver supply comes as a byproduct of copper mining. A copper squeeze, as a result, would also greatly affect the supply of silver at a time when above-ground stockpiles have been depleted. As you can see from the chart below, copper and silver have been traveling companions over the past decade.
Chart courtesy of TradingEconomics.com
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