Silver price rallye
The first time since more than a decade Silver price rises to $30 an ounce. Currently we are trading at $30.80 which is +30% on an annual base. Gold did only +20% YoY which shows, that during a decent precious metal rallye Silver normally outperforms Gold.
The ATH for Silver is still some distance to go, we reached almost $50 many years ago. Since it is a smaller market than Gold, prices can be very volatile. The next step could be the area around $35, that we saw about 12 years ago.
Background of the price action the past months is the hope for interest rate cuts, that makes the interestless metal more attractive to investors. In addition Silver is following Gold price which rose as a kind of safe haven and store of value in times of higher inflation and many crisis worldwide.
How far do you think Silver prices can rise in the coming months?
Nice to see the price going higher, it's been a long wait!🤑
Indeed. 😅
Wow silver is going up and up.... Do you think it would hit 50+ anytime soon?
I'm always looking forward to your blogs man 🥰
Thanks a lot. Appreciate the positive feedback. 🙃🙌🏻
It could go to $50 and above but not anytime soon. On a 1-3 year time horizon maybe.
Oh ok.... I'm grateful you shared this piece of information, you're one of my favorites so I don't miss your blogs,🥰🥰
Btw, how did you find Hive? You are quite new here, aren’t you?
Absolutely new I'm literally 3 weeks old on Hive... I was searching online for ways to earn crypto without risky trading and I saw a blog... That's what led me here ... Then I realized all the benefits of posting here besides earning crypto... So I really love this platform for so many reason.. most especially making new friends from all over the world
Excellent! Yeah it’s a really nice place and ecosystem here. Where do you live actually?
Well in Africa Ghana currently but been US cultured 😂😂😂
🙌🏻😎
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Thanks for the love brother.. there's love in the air😁😂🥰
Interesting! I wonder why there is a rise?
Following Gold. Mix of safe haven and anticipation of interest rate cuts.
Hmmmm... indeed!
Sliver be flying high like an eagle😅😅
Let’s see where it is going to
#hive
Of course, it's very good news for those who have believed in it for a long time, but the price has gone up a lot, so it's a very happy day.