When it comes to predicting the price of silver in 2024, it's important to consider the latest news, market trends, technical and fundamental analysis, and expert opinion. This method of forecasting doesn't give us a specific date, but it does suggest that the price of silver will be in the hundreds of dollars per ounce over the next 10 years. This is due to a secular bull market, which is a long-term trend of rising prices. The demand for silver from the photovoltaic solar energy sector could also receive a boost in the coming years, which could further support its value.
Silver is known for maintaining its long-term value and works well when interest rates are low and fixed income investments don't generate large returns. Whether silver is the right investment for you depends on your risk tolerance, market prospects, and whether you expect it to rebound or fall further. Although prices have dropped during certain times of the year, it has also been observed that the lowest price of gold and silver was higher than the lowest price of gold and silver in the previous year. Silver can be used to diversify a portfolio or as a direct hedge against inflation.
It stands as a smart investment in the current climate.
