Gold and silver prices today on 23-06-2024: Check latest rates in your city | Stock Market News (2024)

FAQs

What will the price of silver be in 2024? ›

The price of silver will move to our first bullish target of $34.70. Since August 15th, 2024, silver left an important trace on its chart: $27.59. For our silver price target of $34.70 to be hit in 2024, silver must respect $27.59 in the remainder of 2024 on a 13-day closing basis.

Silver Price in Kolkata

Silver Price Today in Kolkata is ₹88690.0/Kg. Yesterday's Silver rate on 25-06-2024 was ₹90850.0/Kg.

Gold prices are expected to hit $2,500/oz by the fourth quarter of 2024 and $2,600/oz by the end of 2025. The structural drivers that have helped gold's rally so far will still remain a critical bullish driving force going forward, with J.P. Morgan economists expecting a Fed cut to come in November.

In 2024, gold prices have soared to record highs, reaching $2,409 per ounce. This surge has been driven, in part, by robust central bank demand—including from emerging markets such as China, India, and Turkey.

The silver price forecast is revised upward, anticipating silver to average $30/oz in 2024. A higher price of silver could drive investment in silver-backed ETFs. Supply deficit due to continued decline in silver mine production could support silver price.

10-Year Prediction

According to many long-term forecasts, the value of silver is expected to go above $70 per ounce in 10 years, and some even predict it will get close to $80 per ounce. However, this amount could increase. Most value increases are due to supply and demand based on past market prices and predictions.

Silver prices are expected to rise steadily through 2025, reaching approximately $33.00 per ounce by year-end. Long-term projections indicate continued growth, with prices potentially reaching $57.50 by 2035. Silver has long been a valued asset, prized for its beauty and industrial applications.

On May 17, the price of silver topped $30 per ounce for the first time in more than a decade as expectations grew that the Federal Reserve (the Fed) would lower its benchmark US interest rate soon, and geopolitical tensions globally drove safe-haven demand for the precious metal.

Negative real interest rates occur when rates are running below the inflation rate, and this tends to happen during periods of depression. In turn, this then tends to increase the value of precious metals like gold, as saving accounts and other interest-earning investments all begin to lose money.

How much is gold and silver going for? ›

Capital Economics is forecasting that silver will perform better in 2024 as industrial demand will rise, reaching the $27 level. Physical Gold issued a similar forecast predicting that silver will reach $27 in 2024. They cited rising industrial demand and a narrowing of the Gold/Silver ratio as a reason.

At a Glance: Silver bulls often claim that silver will one day be worth $100 per ounce. Silver prices will likely never hit $100/oz, except for under very extreme economic conditions. On this page, learn about silver's historical highs, what drives silver prices, and our 2024 projections.

This article provides insights into the conditions for silver to hit $50. In sum, we do expect the big silver run to start in 2024 and move to $50 in two phases which will be reached either late 2024 or mid-2025.