One of the factors I will be watching most closely in the years ahead is the supply side of the market. The production of newly mined gold and silver is growing only slowly, while long-term demand remains strong, supported by central banks, investors, and industrial use.
At the same time, discovering new deposits and bringing new mines into production is becoming increasingly difficult, more expensive, and time-consuming. If this trend continues, constrained supply could play a key role in shaping precious metals prices over the coming years.
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