In the past month, silver prices have gone up nearly 20%, eclipsing the S&P 500’s approximate 5% gain over the same period, as well as outpacing other precious metals, including gold (9%), platinum (10%) and palladium (12%).
The silver market was undersupplied by 237.7 million ounces in 2022, the institute said in its latest World Silver Survey, calling this "possibly the most significant deficit on record".
If the US Federal Reserve proceeds to cut interest rates, silver could continue on the current trajectory at least until the end of year
Analysts are already claiming this is “the year” for silver as it latches onto an inflation-fuelled rally to eventually surpass the $30-an-ounce mark that was last seen nine years ago.
For more Updates Do follow us on Social Media
Facebook Page https://bit.ly/3blw5Rg
Instagram https://bit.ly/3MsRHbP
YouTube https://bit.ly/3EBFhvf
Twitter https://bit.ly/3E9IO5U
Linkedin https://bit.ly/3M17Xlk
WhatsApp Group https://bit.ly/JEWELBUZZ
Comments