---
title: "Silver Price Outlook – December 2024"
site: "Monex Precious Metals"
domain: "https://www.monex.com/"
type: "Post"
last_updated: "December 12, 2024"
canonical_url: "https://www.monex.com/silver-price-outlook-december-2024/"
markdown_url: "https://www.monex.com/silver-price-outlook-december-2024.md"
---

# Silver Price Outlook – December 2024

“Silver prices started to tumble even before gold prices, during October. Prices had reached an intraday high of $35.07 on 22 October, which was the highest level that silver prices had reached since 2012. Profit taking kicked in when silver prices reached $35. This profit-taking was further exasperated by the postU.S. election sell off across commodities. On 14 November silver prices touched an intraday low of $29.75, which was the first time silver prices had slipped below $30 since 11 September 2024 when all markets began to rise sharply in anticipation of a 50-bps cut by the Fed at its September Federal Open Market Committee meeting.

Silver’s intraday fall below $30 was short-lived and prices have managed to stay above this level since. As with gold, there is a possibility that silver prices will weaken during December if the Fed delivers a more hawkish stance at its 18 December meeting statement. Any weakness in prices is not expected to last for an extended period, however, since there are so many macroeconomic and political risks and issues that are expected to keep investors nervous enough for them to keep buying gold and silver, supporting investment demand and prices.

In December and into January silver prices could retest $30 and may slip slightly lower as well, notably if the Fed reduces the number of interest rate cuts it states that it plans to deliver in 2025, but prices are unlikely to remain at these levels for an extended period. Concerns of inflation and slower economic growth in the medium term should help support silver investment demand. CPM Group continues to expect silver to outperform gold over the next few years.”