Kitco Silver Charts (2024)

FAQs

Is silver about to skyrocket? ›

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 charts suggest that silver will move to $34.70 late 2024. Once successful, next silver price targets are $48-50. Silver continues its move higher, in line with our silver price forecast.

Why $1000 per Ounce Silver is Unlikely to Occur. The price of silver is currently just over $30 per ounce. At its peak, silver was trading around $50 per ounce, so it would have to rise by 2/3 to reach the $50 mark. It would need to increase about 32x to reach $1,000 an ounce from today's numbers.

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.

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.

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.

The silver rate in India is expected to fall by 9.42% tomorrow and will reach Rs 894 per 10 grams. The predicted high and low for tomorrow are Rs 945 and Rs 839 per 10 grams, respectively. Today the silver rate is expected to close at Rs 817 per 10 grams tomorrow, indicating a change of Rs 77.

10-Year Prediction

According to many long-term forecasts, the value of silver is expected to go above $70 per ounce in 10 years, and some even predict it will get close to $80 per ounce. However, this amount could increase. Most value increases are due to supply and demand based on past market prices and predictions.

Impact of a Weakening Dollar on Silver Prices

When the dollar weakens, silver prices generally rise.

How much can I sell 100 oz of silver? ›

Metals Focus expects to see silver mine production decrease by 1 percent in 2024 to reach 823.5 million ounces, and overall global silver supply to also decrease by 1 percent to hit 1.003 billion ounces. On the demand side, 2023 was the third in a row now that silver demand heavily exceeded supply.

Silver demand will be underpinned by robust consumption of solar panels and EVs in 2024. The silver price forecast is revised upward, anticipating silver to average $30/oz in 2024. A higher price of silver could drive investment in silver-backed ETFs.

When looking at silver expressed in leading assets, the conclusion is clear, very clear: Silver is undervalued.

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.

According to the Silver Institute forecast report, total demand is expected to grow by ~2% from 2023 to 2024. The price of silver has surged recently, with some analysts predicting it could reach new heights.

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.

GoldIRAexplained.com predicts that silver will be trading at an average price of $330 by 2030. This forecast suggests a significant increase in the value of silver over the coming years, indicating a bullish outlook for the precious metal.