Silver Price Analysis
Rising demand, lower interest rates, and technical factors may trigger a strong rally in silver markets in 2024.Silver spent the whole year 2023 in the $20–26 range. Silver needs to climb above the $26.00 level to have a chance to develop sustainable upside momentum in 2024. I think we will have a good year with declining miner activity and increased industrial demand.
It should be noted that silver made several attempts to settle above the $26.00 level but faced strong resistance. These unsuccessful attempts were followed by sell-offs, so the resistance at $26.00 is the key level for silver.
Silver Chart
Portfolio Update
My current assets are valued at $2,076.77 with a total acquisition cost of $3,148.89. So it looks like I'm ending 2023 in the negative. Premiums have fallen a bit reducing my portfolio value. I bought a lot of my coins in the $22-23 spot range, but with elevated premiums I'm still down.
Asset Allocation Chart
Asset Holding by Product