Kitco Silver Charts (2024)

FAQs

Will silver reach $100 an ounce? ›

Silver can rise to $100 /oz, this decade, under exceptional market conditions. The silver price will eventually rise to $100 /oz, but not in 2024 nor 2025. Silver will likely rise to $100 /oz where it will set a major top.

The price of silver will move to our first bullish target in 2024 which is $34.70. We predict $48 to be hit either by mid-2024 or mid-2025. Silver continues its move higher, in line with our silver price forecast. There is still some more upside potential to our long standing target of $34.70.

The question of whether silver will ever hit $50 an ounce again does not have a straightforward answer. It teeters on the brink of possibility and uncertainty, influenced by a myriad of factors including but not limited to market trends, supply and demand dynamics, investor sentiment, and global economic conditions.

The popular story says that the Fed uses bullion banks as its agents to put on naked silver shorts on Comex to drive down the price of silver. It protects the U.S. dollar's value and enables banks to repurchase silver at lower prices.

Silver, in particular, is an appealing option to investors. The price of silver isn't directly linked to the dollar, which means that its value can rise or fall independently. As such, it can potentially maintain its overall value, even if the dollar itself experiences a crash.

Forecasts pointing to a fourth straight yearly deficit in global supplies and a rise in demand to its second-highest level on record raise the potential for silver prices to rally, and even roughly double before the end of 2024.

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.

Silver Stock Investor – $30

Precious Metal expert Peter Krauth, has a silver price forecast of $30 for 2024. Krauth also suggests the price of silver could reach $300 by 2030 due to increased industrial and investment demand.

Silver is used more industrially than gold, and its price does not react the same way to economic events. While silver's price can react dramatically to changes in the economy, it is unlikely that silver will reach $1,000 per ounce, though we do not discount the possibility of triple-digit silver in the coming years.

Will silver hit $30 an ounce? ›

A recent research report on the physical silver market revealed a growing supply deficit, suggesting a silver price of $30 an Ounce in 2024. The silver price hit $30 an Ounce in May 2024.

Furthermore, silver is not a reliable store of value over the long term. Over the past few decades, the price of silver has been volatile, and it has not provided the same level of returns as other assets, such as stocks and bonds.

One of the main reasons silver is so hard-hit at the moment is because it is seen as both an industrial metal as well as a precious metal, so faces the downsides of both.

In finance, the term "Silver Thursday" refers to March 27, 1980, an infamous trading day in which the price of silver collapsed. The collapse was precipitated by the failed attempt of three brothers—Nelson Bunker Hunt, William Herbert Hunt, and Lamar Hunt—to corner the market in silver.

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.