Silver Spot Kitko (2024)

FAQs

How high will silver go 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. Supply deficit due to continued decline in silver mine production could support silver price.

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.

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.

The platform sees silver rising to $40 by the end of December 2025, $58 by the end of 2026, and $122 during 2029. This is one of the most bullish Silver price prediction for the next 5 years.

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.

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.

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.

Impact of a Weakening Dollar on Silver Prices

When the dollar weakens, silver prices generally rise.

How many ounces of silver can I get for $500? ›

Why invest in a $500 face value junk silver bag from GoldSilver? Because each bag contains approximately 357.3 oz of pure silver. These dimes or quarters are not your average currency.

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.

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.

Silver has a strong potential to reach $40 per ounce due to rising industrial demand and a supply deficit. Experts like First Majestic Silver CEO Keith Neumeyer are optimistic, but precise predictions are uncertain due to volatile market conditions.

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.

In 2024, gold prices have soared to record highs, reaching $2,409 per ounce. This surge has been driven, in part, by robust central bank demand—including from emerging markets such as China, India, and Turkey.