Silver Price Surge
Silver has reached a new record, surpassing $50 an ounce, raising questions about its potential future growth.
As gold consistently hits new records, silver bulls have been frustrated by the lack of big moves in the price.
According to a report by Blue Ocean Equities analysts Carlos Crowley Vazquez and Elaine Faddis, silver was the best-performing commodity in 2024, with a year-to-date increase of around 65%, outpacing gold's 50% rise.
- Silver's price gained momentum in September, moving above $50/oz.
- Blue Ocean Equities suggests the silver price could go parabolic, with previous bull markets showing silver outperforms gold by 2-4 times during the acceleration phase.
Carlos Crowley Vazquez notes that if gold continues to rise, silver could ease its climb to $70-80/oz.
Author's summary: Silver price surges to record high.