The first reason is that silver is being used in China's solar panels, which are becoming a hit in the country. Beijing aims to triple its solar capacity by 2020. In July, China displayed its newly built solar farm shaped like a panda in the city of Datong, Shanxi province. It is expected to provide the same power as burning one million tons of coal over the next 25 years.
The next reason claims that the US stock bubble is about to burst. US stocks are hitting new record highs every day, thus causing growing concerns. The Case-Shiller P/E Ratio rose above 30 (the 100-year median is around 16). That is reminiscent of the height of the dot-com bubble and the weeks leading up to the 1929 stock market crash. When stocks fall, demand for gold and silver rise.
Another reason is that European banks still face challenges. In June, there were reports that Italy's banking crisis has erupted again. According to Mediobanca, 114 of Italy's 500 banks have “Texas Ratios” of over 100%, 24 banks reportedly have ratios of over 200%, including Monte dei Paschi di Siena with a TR of 269% and Veneto Banca with a TR of 239%. The problem extends to the whole EU. In these circumstances, silver could become a safe-haven asset in the long run.
One more reason to pay attention to this precious metal is an escalated military conflict on the Korean peninsula. Meanwhile, in turbulent Middle East there is a concentration of armed forces. However, it does not have to come to war for silver price to rise, with threats and mutual accusations from countries' leaders being enough.
Yet another reason to get some bullion is that silver and gold are again becoming real money. Seven US states decided that payments can be made in gold and silver. Arizona acknowledged gold and silver as legal tender quite recently, on August 9. Four other states are on the way to accepting bullion as currency.
Economic inequality remains one of the most pressing issues in today's world. To measure the gap between the rich and the poor in each country, the Gini index is used. This coefficient reflects how income is distributed within a society: the closer the index is to 100, the greater the inequality. Let's explore which countries currently have the highest Gini index values
This year has been pivotal for Bitcoin, the world's leading cryptocurrency. One of the key milestones was the approval of Bitcoin spot ETFs by the US Securities and Exchange Commission. In April 2024, Bitcoin also experienced a halving event, which is typically seen as a positive development for the digital asset. This year, the cryptocurrency is up 57%, and analysts remain optimistic about its future. However, they highlight four key factors that could influence Bitcoin's trajectory, both for better and for worse
Analytical periodical US News and World Report has presented its ranking of the best countries in the world in terms of quality of life, based on a survey of nearly 17,000 people. The list considers factors such as economic and political stability, a strong labor market, income equality, family-friendliness, safety, the quality of education, and healthcare systems. Let's find out which countries made it to the top of this list.
