While predicting the exact future price of any commodity, such as silver, is always difficult due to numerous variables in the economy, there’s a possibility that silver could hit $100 per ounce in the future. Key factors that could drive this increase could include:
1. **Increased Demand**: Silver’s industrial usage is rapidly increasing, particularly in the technology and renewable energy sectors. Electric vehicles and solar panels are two areas that require a significant amount of silver. Therefore, increased industrial demand could potentially push silver prices higher.
2. **Monetary Inflation**: Inflation often leads to higher commodity prices, including silver. If paper currencies lose value, investors may turn to tangible assets such as silver and gold, driving up demand and, consequently, prices.
3. **Geopolitical risks**: In times of political uncertainties or tensions, investors often turn to perceived ‘safe-haven’ assets such as silver. This increase in demand during such times could potentially push silver prices to $100 per ounce.
4. **Investment Demand**: Silver is also seen as an attractive investment in the form of exchange-traded funds (ETFs). Increased demand from those who are trying to diversify their investment portfolio could again, push the price towards $100 per ounce.
Remember, these are possibilities — not certainties. While these factors could potentially drive silver prices up to $100 per ounce, equally, other unforeseen economic factors could cause prices to remain stable or even fall. Always consult with a financial advisor before making investment decisions.
