Silver is down 0.9% so far in July after falling 2.9% in June.
Right now, the Gold-Silver Ratio hovers around 75, which means it takes approximately 75 ounces of silver to buy one ounce of gold. At times like these, when silver is still highly undervalued compared to gold, there is typically a rush to take advantage of lower prices in the silver market.
Yet, puzzlingly, we haven’t seen that happening so far in the bull market. Silver is still highly undervalued at current prices, and arguably, investors are missing out on potential gains. Silver is up 14% this month after rising 7% in April and gaining 8.9% in March, so with a clear positive trend established, there's no better time to buy.
At this point, we could see silver much closer to its’ previous high of $50 an ounce, or beyond, by the end of 2024. While silver spent the last few years consolidating, the last time it hit a major surge, we saw gains of 48% (in 2020).
Generally, silver tends to be more volatile than gold, thus resulting in comparatively larger moves up and down when market forces are active. On the whole, silver usually follows the movements of gold; however, it will occasionally gain strength on gold due to its numerous industrial uses. More importantly, silver trade is a much thinner market than gold. So, the same dollar has a bigger impact in the silver market than it does in the gold market.
Silver follows its leader—gold, but silver will invariably out-pace gold as they both move the same direction—either up or down. Considering the volatile nature of silver, with wider swings to the downside followed by wider swings to the upside, profit-motivated precious metals buyers should consider purchasing silver now. There is a clear signal to buy.
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1 oz. Silver Australian Kangaroo Coins
Just $2.49 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. Date selection is random and based on availability. Offer expires Friday, May 31, 2024, or while supplies last.
