Silver ended up slightly down just 0.8% in 2023, essentially flat, after seeing a big boost in November and December.
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. Silver's high was set during the last bull market was $50 an ounce, yet silver today is nowhere near that high... yet. 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 silver set to explode in 2024?
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!
To help you take advantage of the building momentum, we're starting off 2024 with one of the most cost-effective ways to add silver to your holdings. Give us a call at 1-800-831-0007 or email us to place your order today!
LBMA-Approved 100 oz. Silver Bars
Just $1.29 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 oz. silver. Shipping, handling, and insurance are included on any purchase of 500 oz. of silver or more. Offer expires Friday, January 5, 2024, or while supplies last.