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| Above, Morgan and Peace silver dollars. Photo by Armand Vaquer. |
For those of us who are investors of silver, 2024 has been a good year.
Currently, silver's COMEX spot price is at $30/toz. This is much better than when 2024 began when silver's spot price was at $23.639/toz.
What will happen in 2025? Some traders speculate we may see a silver spot price of $40/toz.
In any case, Kitco News took a look at silver's performance over the past year and what can be (possibly) expected next year.
Here's a snippet:
By late August, spot silver was once again testing resistance at $30 per ounce, and after an early September pullback saw the gray metal dip below $28, this was followed by a strong rally that saw spot silver break decisively above $30 per ounce on September 12.
The $30 level was now acting as support for the gray metal, which quickly moved up to $32 by September 23, and after retesting support just above $30 per ounce on October 8, spot silver set what proved to be the annual high of $35 per ounce on October 21. After a brief dip down to the $33.600 range, the spot price once again rose back above $34 per ounce, topping out at $34.442 on October 28th, the last time silver would see trade above $34.
84 retail traders, fully 48%, expect silver to trade above $40 per ounce next year, with $48 the all-time high set in March 2011.
To read the full article, go here.
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