Silver, as well as gold, has taken a bit of a dip recently, after touching the highest levels seen...
Gold hit another new record high rallying early yesterday as investors speculate that the Federal Reserve will begin cutting interest rates in June.
But is silver ready to catch up?
In March, silver saw a big move, gaining 8.9%, after losing 1.2% in February and falling 3.8% in January. It now sits just above $25 an ounce.
For some time, gold spot prices have been hitting new all-time records while silver continued to trade in a relatively narrow range. Essentially, silver has been consolidating its early pandemic gains for nearly four years, with a brief exception in early 2021 when it temporarily surged above $30.
Now silver is showing clear signs of narrowing the gap.
Historically, gold drives the momentum in a precious metals bull market, while silver follows its trajectory, though it often lags behind. However, when silver does catch up, the gains are often explosive and overtake gold.
While gold is reaching new records regularly now, silver still has not tapped the previous record of $50 an ounce that it reached during the previous bull market. Silver is still dramatically undervalued, which means that there is also a real buying opportunity for silver investors. The combination of dwindling supply and rising demand may send silver skyward over the next few years, so the time to act is now!
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