Gold 
“Silver Price Outlook
Silver prices declined alongside gold during May. The weakness in silver prices was stronger than that of gold, which resulted in the average gold:silver price ratio rising during the month to 84.5. This was the highest level that the ratio had reached since February 2023 when it stood at 88.9. The relative underperformance of silver should be a supportive factor in coming months. That said, similar to gold, silver prices too are expected to soften over the course of summer.
Seasonal weakness coupled with expectations of tighter monetary policy and the medium-term removal of a U.S. debt default are all factors expected to weigh on silver prices. Meanwhile, stronger than expected economic conditions and indicators suggest that fabrication demand should remain supportive of silver prices. This alone is unlikely to help drive silver prices higher, however, with investor demand for silver playing a more important role in driving prices. Silver prices have initial support at $22.40, which if broken could see prices fall toward $20.75 or even $20.
Silver prices already have declined quite strongly, which could reduce the risk of another sharp decline in prices. That said, silver prices tend to be very volatile and a decline to $20 should not be ruled out over the next few months.”
*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.
