Kitco Silver Today (2024)

FAQs

How high is silver expected to rise? ›

The price of silver will move to our first bullish target of $34.70. On August 5th, 2024, silver violated support at $28.80; our silver price target of $34.70 is postponed. Silver charts suggest that silver will move to $34.70 late 2024. Once successful, next silver price targets are $48-50.

The poll predicts a median price of $24.85 per ounce in 2024 for silver. Investing Haven is predicting that silver will rise to $34.70 in 2024.

Commerzbank forecasts silver rising above $30 by the end of 2024. They note that adverse factors such as high-interest rates and weaker investment demand will fade in 2024 and that strong industrial demand will boost prices.

Silver will likely rise to $100 /oz where it will set a major top. This might happen in 2026-2027, certainly not 2024-2025. Silver requires exceptional conditions like rising inflation or an extreme shortage in order to rise to $100 /oz which might not be its endpoint once it clears ATH.

Analysts predict that the precious metal will continue its upward trend in 2025. Longforecast and Coin Price Forecast project the price to reach $40.71 – $55.87 per troy ounce. According to optimistic forecasts, the XAGUSD quotes may reach $53 – $56.

We can rely on these data to suggest that in ten years, Silver can grow to a minimum of $150 an ounce from the current price of $20.75 an ounce. On the upside, it could reach up to $750 an ounce if the conditions are right. These are all highly realistic in the long term.

Silver currently trades at about $25 per ounce compared to over $2,100 per ounce for gold (as of March 25, 2024), and the significantly lower pricing of silver makes it much easier for investors to build up a meaningful allocation over time without requiring as much upfront capital outlay.

Current Market Conditions

Market analysts currently predict that silver will soon price higher than gold. As consumer confidence increases after the Covid-19 lockdown protocols, silver consumption is expected to be sky high. Right now, the coming months will be the best time to sell your silver to maximize your profit.

You can expect them to have substantial exposure to depreciation because of practices such as printing money. Having silver bullion guarantees a finite and tangible asset. Even in turbulent market conditions, physical silver will never become worthless. Silver will keep its intrinsic and real value.

Will silver go up if the economy crashes? ›

Unlike fiat money, precious metals maintain intrinsic value, offering a store of value that can weather financial storms. A key factor to consider is the inverse correlation between the value of the dollar and the price of silver. When the dollar weakens, silver prices generally rise.

The Average Silver Allocation in a Portfolio

Many analysts recommend holding an average allocation of 5-10% in gold and silver. It's important to note that this is just a general guideline. Each investor has their own risk appetite and long-term goals so your ideal allocation may be different.

Why invest in a $500 face value junk silver bag from GoldSilver? Because each bag contains approximately 357.3 oz of pure silver.

This article provides insights into the conditions for silver to hit $50. In sum, we do expect the big silver run to start in 2024 and move to $50 in two phases which will be reached either late 2024 or mid-2025.

We can rely on these data to suggest that in ten years, Silver can grow to a minimum of $150 an ounce from the current price of $20.75 an ounce. On the upside, it could reach up to $750 an ounce if the conditions are right. These are all highly realistic in the long term.

Does silver do well in a recession? In the past 50 years there have been four major recessions of note, and in three of the four the silver price did do well. As shown in the chart below, the silver price does usually goes up during - or just after - a recession.