Where Is Silver Heading Next?

…Here is the background to this latest installment in the silver bull story as shown in the chart below. After a grinding bear market of 23 years, silver entered a new bull market on 21st March 2003. This bull will last 20 to 30 years as we enter an age of increasingly greater inflationary forces brought on by Baby Boomer retiree demands, Peak Oil and Silver as well as the underlying upwave of the well known Kondratieff wave.

…The fundamentals that will propel wave 3 will be similar to wave 1 as the economy recovers, silver demand picks up industrially but again inflationary pressures begin to bear as commodity demand from China and elsewhere tightens. The inflationary effects of the worldwide credit crunch bailout will also finally filter through but we also expect Peak Oil to finally and decisively appear and oil to breach $200 and beyond. Wave 3 will occupy most of the next decade.

Market Oracle