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"Silver is in a bull market."
Admittedly, given the past year's price action, you might think I'm crazy for saying that.
But the (much) bigger picture is rather bullish from here. I say that because global silver mine production has been in decline since 2016. Some analysts expect a minute increase this year of just 0.2% over 2017.
Retail silver demand was down last year, but solar panel production is set for a massive increase. And silver jewelry, which has become trendy once again, could see as much as a 9% bump in demand this year.
On top of that, it's still a preferred safe haven – just like it's been for thousands of years. It likely always will be. Geopolitics and economic uncertainties, especially with currency and trade wars ever-present, make silver an appealing hedge.
Remember: Despite silver being readily available, inventories can and do deplete quickly, throwing the supply and demand equation off balance in short order.
It's that fragile balance that's the key to my favorite silver plays…
About the Author
Peter Krauth is the Resource Specialist for Money Map Press and has contributed some of the most popular and highly regarded investing articles on Money Morning. Peter is headquartered in resource-rich Canada, but he travels around the world to dig up the very best profit opportunity, whether it's in gold, silver, oil, coal, or even potash.