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2024 Precious Metals in a Rising Storm
June 2024 – Monex and Jeffrey Christian from CPM Group discuss what investors should expect now that silver broke through and hit $30. Jeffrey Christian addresses the concerns of investors who felt discouraged by the price drop following the historic 2021 spike, and he emphasizes the importance of staying prepared for the potential of significant price increases. With economic and political issues on the horizon, this is a must-watch for anyone interested in the silver market and its tremendous potential. Don’t miss out on expert analysis and predictions that could shape your investment strategy…
Silver Investment History and Trends
Silver prices have experienced significant volatility over the years, ranging from lows of $1-$2 per ounce to highs reaching $50 per ounce. In recent years, silver remained in a trading range between $22 and $26 per ounce before experiencing a breakout to the $31-$32 levels.
Current Silver Market Dynamics
The recent price surge was driven by a combination of economic and political factors, increased demand for silver fabrication, and a rise in investment demand.
Future Outlook:
CPM Group projects an annual average silver price to range higher this year or next, matching the record annual average high seen in 2011. Investors should anticipate some price consolidation in the upcoming months, followed by a potential surge in the last four months of the year due to ongoing economic and political uncertainties.
