Kitco Silver Charts (2024)

FAQs

Is silver about to skyrocket? ›

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.

Silver prices are expected to rise steadily through 2025, reaching approximately $33.00 per ounce by year-end. Long-term projections indicate continued growth, with prices potentially reaching $57.50 by 2035. Silver has long been a valued asset, prized for its beauty and industrial applications.

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.

Silver Price is at a current level of 29.77, up from 29.58 last month and up from 24.26 one year ago. This is a change of 0.66% from last month and 22.74% from one year ago.

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.

What is the outlook for silver? Metals Focus anticipates another strong year for silver demand in 2024, and is calling for a deficit of 215.3 million ounces, driven in part by continued stagnation in supply alongside another record year for industrial demand.

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.

Silver has a strong potential to reach $40 per ounce due to rising industrial demand and a supply deficit.

How Much Silver Should You Own? Determining the right amount of silver to own depends on several factors, including your investment goals, risk tolerance, and overall financial situation. While some experts suggest a precious metals allocation of 5-10% of your total portfolio, this can vary widely among investors.

In the event of a dollar collapse, silver, being a precious metal with intrinsic value, may see a rise in price due to increased demand as investors seek a hedge against inflation and financial instability. Silver's value as an investment could serve as a store of wealth in uncertain economic times.

Does Warren Buffett buy silver? ›

Warren Buffett does not invest in gold. He has invested almost $1 billion in silver, so the reason for his aversion is not simply a dislike for precious metals. The explanation for Buffett's dislike of gold and for his enthusiasm about silver stems from his basic value investing principles.

All signs point to silver remaining a good investment in 2024. This means it's a good time to both buy and sell silver. But as to what this means to you individually, it's always best to seek professional financial advice before taking action. Simply call (909) 985-4653 or click here for more ways to contact us.

What's the highest price silver has ever been? Silver's highest historical price was $49.45 per ounce on Jan. 18, 1980.

The price of silver will move to our first bullish target in 2024 which is $34.70. On July 3d, 2024, silver bounced from its breakout level. This implies that $34.70, our silver price forecast for 2024, could be tested and even exceeded in 2024. Next silver price target: $48-50.

Today silver rate is expected to close at Rs 900 per 10 grams tomorrow, indicating a change of Rs 51. The silver rate prediction is based on various factors such as global market trends, currency movements, and supply-demand dynamics.