Gold 
“Silver prices were pressed lower during the first week of March, driven down by expectations of a more hawkish Fed. Prices slipped to an intraday low of $19.95 on 8 March, their lowest level since early November 2022.
The trend toward lower prices was quickly reversed starting on 9 and 10 March by concerns of a banking crisis following the failure of three U.S. regional banks drove silver prices up strongly on safe haven demand. Markets have been expecting a monetary policy pivot following the recent bank failures and macroeconomic data which has been signaling a slowing in inflation and labor demand, which has been adding further fuel to these monetary policy pivot expectations.
As a result silver prices showed strong gains over the course of March, but were not particularly positive over the course of the entire first quarter.
While silver prices have risen quite sharply over the past few weeks and could experience a brief pull back, the path of least resistance for silver prices in the near term seems to be to the upside. Prices could slide back toward $23.50 following the recent increase. After such a pullback it would not be surprising to see silver prices rise toward $26.50.
CPM continues to see silver prices trading between $19.50 or $20.00 on the low end and $28.00 or so on the high end over the course of this year.”
*This information is solely an excerpt of a third-party publication and is incomplete. Please subscribe to the referenced publication for the full article. This is not an offer to buy or sell precious metals. Investors should obtain advice based on their own individual circumstances and understand the risk before making any investment decision.
