Silver Price Surge: How High Can it Go?
Silver has reached a new record, breaching $50 an ounce, and could potentially go even higher.
As gold consistently hits new records, silver bulls have been frustrated by the lack of big moves in the price.
According to Carlos Crowley Vazquez from Blue Ocean Equities, if gold continues to rise, silver could ease its climb to $70-80/oz.
- Silver was the best-performing commodity in 2024, with a 65% year-to-date increase.
- Gold's year-to-date increase is 50%.
- The silver price gained momentum in September, moving above $50/oz last week.
Blue Ocean Equities analysts suggest that the silver price could go parabolic, outperforming gold by 2-4 times during the acceleration phase.
Author's summary: Silver price surges to record high.
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