Analysts Say SILVER Set to Soar in 2024

Michael DiRienzo, executive director for the Silver Institute, also forecasts fresh highs in the coming weeks, but says data points to silver hitting $30 per ounce before year’s end. 

For the moment, silver’s spot price is hovering around $22 an ounce. 

So, a jump to $26–$30 an ounce would mean a potential gain of 18%–36% for the precious metal  

The question is… 

What market forces are driving silver’s tailwind? 

Analysts say the Fed’s upcoming pivot could provide a powerful near-term catalyst. 

And the reason is simple: In higher-rate environments, many Investors tend to favor bonds, Treasuries and other interest-bearing investments. But when interest rates fall, investors tend to pour capital into “financial defense assets” like precious metals. 

As you may recall, Fed Chief Powell has indicated rate cuts could begin midyear. 

This means silver owners may have an excellent but brief window of opportunity to buy silver right now at a temporary bargain. 

Especially since analysts also report… 

Global demand for silver is growing fast. 

The Silver Institute says global demand could reach 1.2 billion ounces by the second half of the year—the second-highest level on record. 

And Morgan Stanley says about half of that demand is industrial… with applications for medical devices, batteries, nuclear reactors, semiconductors, touch screens, smartphones, electric vehicles and more. 

Silver is also crucial for high-efficiency n-type solar cells, which are entering mass production. And as the world’s governments push to advance The New Green Revolution, the solar industry’s demand for silver may dramatically increase. 

But also, on a more fundamental level… 

Silver prices historically rise when economic uncertainty spreads. 

Like gold, silver tends to respond when market sentiment grows more anxious and uncertain. But silver’s price also tends to rise higher than gold when a precious metals rally is triggered. 

During America’s stagflation economy from 1970 to 1980, for example, gold prices climbed 2,328%.  

Meanwhile, silver prices rocketed 3,105%. 

After the 2008 crisis, gold prices rallied 131%… while silver soared 310%.  

This is why it’s important to remember silver’s potential for rapid growth when the nation’s economic outlook is shaky or unclear like it is now. 

That said, a lot can happen to the economy by midyear. 

So, whether silver’s high price forecasts hold true remains to be seen. 

But when you add Washington’s ballooning national debt, reckless deficit spending, growing geopolitical conflicts and rising concerns over who will occupy the White House to the mix…  

It’s easy to see why analysts are so bullish, and why right now may be a wise time to consider adding silver bullion to your holdings.  

Or call 888-529-0399 to schedule a free consultation with an experienced Gold Specialist. There’s no obligation.