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    Home»Precious Metal»Will 2024 Be The Year When Silver Prices Hit $50 An Ounce?
    Precious Metal

    Will 2024 Be The Year When Silver Prices Hit $50 An Ounce?

    July 11, 20242 Mins Read


    The major catalysts behind an historic squeeze in Silver supply include the Green Energy Transition, with Solar Energy playing a pivotal role. Alongside unprecedented demand from Artificial Intelligence and the EV sectors – which are undoubtable three of the fastest and biggest growing industries in the world today.

    Worsening supply and demand dynamics have sent Silver prices on a parabolic run since October last year, rallying from just under $20 an ounce to a 12-year high of $32.50 an ounce last month – notching up an impressive gain of over 62%, over a seven-month stretch.

    And the rally might not stop there!

    In a note to clients, analysts at GSC Commodity Intelligence wrote that “Silver has a habit of lagging behind Gold for extended periods of time, but once it gets going, it really gets going”.

    Bottom Line

    Generally, Gold will shoot up first and then you will see Silver take off when you least expect it. And Silver always outperforms.

    Whichever way you look at it, one thing is clear. Silver is still relatively cheap compared with Gold and certainly has a lot of catching up to do. To quote analysts at GSC Commodity Intelligence – “Silver is definitely the best trade right now and the one to watch in the second half of 2024”.



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