Investing Haven: Silver Set to Rise To $30 This Year, But Where is Momentum?
Article by Investing Haven
A recent physical silver market research report suggests silver to hit $30 in 2024. This seems a very low silver price target considering a silver supply deficit, bullish secular silver chart, silver relative to gold undervaluation.
Should the price of silver not be closer to $50 given the supply deficit?
Market Deficit and Investment Outlook: The silver market is expected to remain in a deficit for the fourth consecutive year. Market expectations of U.S. interest rate cuts and a stronger U.S. dollar could temporarily affect silver investment, but silver’s positive fundamentals should encourage renewed interest once the Fed begins to cut rates.
Silver forecast
What’s certainly interesting is that the report by The Silver Institute did not mention the word ‘silver shortage’ nor did it mention ......