Is 2024 the Year of Silver?

Silver rose another 7% in April after gains of 8.9% in March. 

Like gold, silver is being buoyed up by safe haven demand from global geopolitical conflicts and signs of an economic slowdown here.  Persistently high inflation has led the Fed to keep interest rates unchanged for now, but the weaker jobs report and other data could accelerate the timeline for the rate cuts that are still anticipated for later this year. If the Fed cuts rates sooner rather than later, that would be bullish for precious metals.

In the last bull market, gold peaked at 650% gains from the previous lows, but silver blew gold out of the water with 1,000% gains from its lows. Historically, silver tends to lag behind gold, and then move explosively, whether to the upside or the downside. 

In 2020, we saw this pattern in action. Gold reacted strongly to the safe haven demand caused by the upheaval of the pandemic. While silver's upward trajectory initially held off, leading to the highest gold-silver ratio of all-time, silver spot prices jumped 48% by the end of the year, outperforming nearly every single asset class in 2020, including gold.

So, is 2024 the year of silver?

More big moves are coming in silver over the next few years, if key metrics are to be believed. Drivers for demand are expected to increase drastically over the next decade, while silver supply is set to diminish for the third consecutive year. The combination of dwindling supply and rising demand may send silver skyward over the next few years, so the time to act is now!

With silver still far from its $50 an ounce all-time high from 2011 during the last bull market, there's still an opportunity for real profit potential when it comes to silver. Silver is just getting started and the recent rally is the next step in the precious metals bull market.

Don't miss out on the opportunity at hand.

Give us a call at 1-800-831-0007 or email us to place your order today!

1 oz. Silver American Buffalo Rounds
Just $1.49 over spot

*Prices subject to change based on market fluctuation and product availability. Prices reflected are for cash, check, or bank wire. Minimum order is 100 ounces of silver. Free shipping, handling, and insurance are available for purchases of 500 ounces of silver or more. Offer expires Friday, May 10, 2024, or while supplies last.