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This is 'the most undervalued metal on the planet' - David Morgan's 2022 outlook

Kitco News

(Kitco News) - Expect silver, the "most undervalued metal on the planet" to finally breach $30 an ounce in 2022, said David Morgan of

"I think [retail demand for silver] is going to be up because the stock market starts to sell off, the 10-year goes through the golden cross, we start to see more uncertainty in the market, and then if the cryptocurrency market starts to wane, we will see a lot more interest in the precious metals, so I think all three of those things are synergistic to push the metals higher," Morgan said.

Industrial demand continues to provide tailwinds going into 2022, Morgan added.

"Electrification...anything electrical or electronic will probably [be the main driver]. Solar panels will probably play a big role," he said.

As fossil fuels hit "the energy cliff," renewable energy sources, like solar power, will play a bigger role in energy generation. However, there's a major problem, Morgan noted.

"There isn't enough silver to put the United States housing market on solar, let alone the industrial side of the United States. In other words, all commercial activity in the United States that require electricity would require about two years' worth of all the silver we mine on the planet. To put all the houses on silver would take about one year's worth of silver," he said.

For more information on how gold and Bitcoin prices will impact silver, watch the video above.

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