Kitco Silver Charts (2024)

FAQs

Is silver going to skyrocket? ›

Investor interest in silver is set to be bolstered by advanced-economy interest rate cuts later this year.” Investing Haven expected silver to trade around $28/oz in 2024. Once silver breaks the $28 level, the metal could test the $32 to $36 level, which the price forecasting website expected to happen in H1 2024.

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.

The price of silver will move to our first bullish target of $34.70. Since August 15th, 2024, silver left an important trace on its chart: $27.59. For our silver price target of $34.70 to be hit in 2024, silver must respect $27.59 in the remainder of 2024 on a 13-day closing basis.

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. This might happen in 2026-2027, certainly not 2024-2025.

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.

As a safe haven asset, silver's price during a recession can move significantly and quickly. It is fair to say that generally the silver price goes up during a recession, but past trends also don't necessarily mean this will be repeated in the future.

Impact of a Weakening Dollar on Silver Prices

When the dollar weakens, silver prices generally rise.

A 90% silver quarter contains 0.1808479 of an ounce of silver, so 5.5 of them adds up to one troy ounce. Since you can't have half of a coin, rounding up means it takes six silver quarters to make more than a troy ounce. To add up to an ounce of silver, it takes three pre-1965 half dollars, six quarters, or 14 dimes.

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.

Should I be buying silver right now? ›

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.

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

All data points suggest that silver will not consolidate for a long time around $30 an Ounce. Silver is set to exceed $30 not later than early 2025. The silver price exceeded $30 an Ounce between May 17th, 2024, and May 31st, 2024, for the first time in 11 years. How much higher silver can rise?

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.