Potential for Explosive Price Rise

Many precious metal analysts suggest that silver prices could experience an “explosive” rise in 2024 if global supplies continue to fall short of demand.

This suggests that there may be significant upside potential for silver prices.

Federal Reserve Rate Cuts

The Federal Reserve has signaled its plans to pivot to interest rate cuts in 2024.

Historically, lower interest rates tend to be favorable for precious metals like silver, as they can reduce the opportunity cost of holding non-interest-bearing assets.

Green Energy Demand

Silver is used in various applications related to green energy, including photovoltaics for solar technology and 5G networks.

As the demand for green energy continues to grow, it is expected to drive industrial demand for silver, which could support higher prices.

Favorable Supply-Demand Dynamics

The global supply of silver is expected to fall short of demand for the third consecutive year. The article mentions a structural deficit in the silver market, which can be a bullish factor for prices.

Industrial Demand: Silver is used in a wide range of industrial applications, including consumer electronics and vehicle production. Rising industrial demand can contribute to higher silver prices.

Potential for greater Than US$30 Prices

Some experts believe that silver prices could push up toward the major resistance level of US$30 per ounce in 2024.

There is optimism that this price barrier will be breached, potentially leading to further gains.

Positive Sentiment

Recent articles in the financial pages and precious metal sites suggest that the fundamentals for the silver market are extremely bullish, with the only missing driver being investor interest.

If investor interest in silver increases, it could further boost prices.

Important Disclosures:

1. Statements and opinions expressed are the opinions of the author and not of Streetwise Reports or its officers. The author is wholly responsible for the validity of the statements. The author was not paid by Streetwise Reports for this article. Streetwise Reports was not paid by the author to publish or syndicate this article. Streetwise Reports requires contributing authors to disclose any shareholdings in, or economic relationships with, companies that they write about. Streetwise Reports relies upon the authors to accurately provide this information and Streetwise Reports has no means of verifying its accuracy.
2. This article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports’ terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.

For additional disclosures, please click here.

John Newell Disclaimer

As always it is important to note that investing in precious metals like silver carries risks, and market conditions can change violently with shock and awe tactics, that we have seen over the past 20 years. Before making any investment decisions, it’s advisable consult with a financial advisor if needed. Also the practice of conducting thorough research and to consider your investment goals and risk tolerance.