Silver price shows potential breakout

12.26.23 - Silver price shows potential breakout

Gold last traded at $2,063 an ounce. Silver at $24.21 an ounce.

Silver price shows potential breakout to $30 with $42 upside in 2024: Analysts -Investing Haven

Here at InvestingHaven we pride ourselves on making educated forecasts of silver, gold, crypto and stocks (among other sectors).

In addition to our predictions, we like to look at other industry experts' thoughts on the future outlook of silver.

In a recent report from Commerzbank, they've outlined their 2024 silver forecast.

"We remain convinced that the Silver price has upside potential and should also make up ground versus Gold. We are forecasting a price increase to $30 by the end of 2024, which would bring the Gold/Silver ratio down to 72," the German bank noted.

We agree with Commerzbank that Silver will hit at least $30.

In our projection, we show silver hitting $34.70 in 2024 with upside closer to $50 in 2025.

The Bullish sentiment is also backed by mega-bank J.P. Morgan, who says "Gold and silver are forecasted to outshine platinum and palladium as well as base metals such as copper and nickel," in their 2024 outlook.