BeyondSPX's newsletter recently featured silver as an interesting investment theme. below is the relevant part.

Note: formatting is better on the website.

# Theme 1: Silver's Historic Breakout Signals New Bull Market Cycle

**News:** Silver prices broke through $35 per ounce in late July, reaching the high $36 range and marking the first time the precious metal has traded at these levels in 13 years, while mining stocks surged 23% as the breakout confirmed what equity markets had been anticipating.

**Investment Thesis:** Silver's breakthrough above critical resistance levels, combined with five consecutive years of supply deficits and surging industrial demand from AI and clean energy sectors, positions silver mining companies for a sustained bull market cycle.

Silver has experienced a supply deficit for five consecutive years, with global demand projected to reach 1.2 billion ounces in 2025. Unlike gold, silver serves dual purposes as both a precious metal investment and critical industrial commodity.

The metal's outstanding conductivity makes it essential for electronics manufacturing, solar panel production, electric vehicle components, and medical devices. This industrial demand, combined with institutional buying and geopolitical safe-haven demand, has created structural supply-demand imbalances.

The technical breakout above $35 represents more than just momentum trading - it validates the fundamental thesis that silver markets have been severely undervalued relative to their supply-demand dynamics."

Newsletter signup here: [https://beyondspx.com/investment-themes](https://beyondspx.com/investment-themes)

Silver hits 13-year highs and nobody's talking about it