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Silver has skyrocketed 70% this year, leaving gold's 50% rally in the dust Silver has gained 12% this year and is trading at about $32.40 an ounce Goldman sachs analysts wrote sunday it’s likely silver prices will continue to rise during the government shutdown and expectations of expected interest rate cuts from the federal reserve, which.
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Goldman sachs said on sunday that silver prices are likely to rise further in the medium term, driven by private investment flows similar to those boosting gold amid anticipated federal reserve. Goldman sachs raises its gold target to $3,100, reinforcing silver’s potential upside. While that relationship still holds, central bank purchases have been a powerful force, resetting the level of gold prices higher since 2022, goldman sachs said.
As we near what is widely expected to be the beginning of the fed's interest rate cutting cycle (with the futures markets now pricing in a 65% probability of a 50 basis point cut on wednesday), goldman sachs just put out a report on why they now expect silver to soar.
Silver up 77% ytd, goldman sachs says gains may continue but expect volatility Silver reacts more to investor inflows than gold due to smaller market size.
