Silver price rallye
The first time since more than a decade Silver price rises to $30 an ounce. Currently we are trading at $30.80 which is +30% on an annual base. Gold did only +20% YoY which shows, that during a decent precious metal rallye Silver normally outperforms Gold.
The ATH for Silver is still some distance to go, we reached almost $50 many years ago. Since it is a smaller market than Gold, prices can be very volatile. The next step could be the area around $35, that we saw about 12 years ago.
Background of the price action the past months is the hope for interest rate cuts, that makes the interestless metal more attractive to investors. In addition Silver is following Gold price which rose as a kind of safe haven and store of value in times of higher inflation and many crisis worldwide.
How far do you think Silver prices can rise in the coming months?
