#market-outlook

#market-outlook

Silver's charge toward the $50 mark - a 71% YTD increase - is being fuelled by powerful, real-world forces rather than the speculation that drove its 1980 high. A deepening structural deficit, record industrial demand (it reached a record 680.5 Moz in 2024), and accelerating investment in green technologies are tightening supply and pushing prices higher. While silver doesn't share gold's full safe-haven credentials, its dual role as an industrial and store-of-value metal continues to draw investors seeking stability and upside.

The party's over. Now comes the hangover. I'm talking about the end of electric-vehicle tax credits in America, which helped drive a bonanza of sales in the third quarter of this year. But now that they're gone, many experts and analysts expect a downturn in the marketat least for a while. Predictions we've reported on range from "a speed bump" to "a dangerous drop in investments that would keep the U.S. competitive with Europe and China."

The Wall Street Journal Editorial Board has warned that the recent 15% tariff agreement with Japan could carry long-term strategic costs in the form of rising prices and mounting pressure on consumer and business sentiment.

The US dollar steadied after three days of losses, as markets assessed the newly announced trade agreement with Japan, which involves a 15% tariff on exports.

For Q2, analysts forecast EPS of $2.89 on $2.67 billion in revenue, both modestly down year-over-year, indicating challenges in the luxury housing market.