Gold 
“After falling to their lowest level since March 2023, in the first week of October, silver prices staged a recovery, following gold prices higher over the remainder of the month and into the early days of November. While silver prices have recovered from their October lows, they have struggled to break above the $23.80 level since late August. Like gold, a lot of the positive factors supporting silver have been factored in at this time and a short-term pullback in prices, which seems already to have begun, will unfold in the coming weeks. Prices could fall back toward $21.70, which could present a buying opportunity for investors. That said, given silver’ volatile nature, a decline in silver prices toward $21.50 should not be ruled out.
Many of the same factors such as a potential U.S. government shutdown or concerns of a recession, which are supportive of gold are expected to help silver prices as well. Furthermore, the gold:silver price ratio once again is on the rise, which bodes well for silver on a relative value basis. On a monthly average basis, the ratio stood at 86.1, which was the highest that it has been since averaging 88.9 in February 2023.
Silver prices also are heading into a period of seasonal strength, which coupled with numerous political risks and concerns of a recession could see silver prices rise back to the highs of 2023 over the next few quarters. When an actual recession occurs and interest rates need to be
lowered, silver prices could rise sharply. Such a situation is not expected until late 2024 or even 2025.”
*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.
