Current Market Development
- Price Movement: The spot price of silver rose temporarily by up to 4.2% to over $35.90 per ounce, marking the highest level in 13 years.
- Technical and Fundamental Factors: The increase is driven by a combination of technical momentum, improved fundamentals, and broader investor interest.
- Comparison with Gold: Silver has lagged behind gold in recent months, but is now playing catch-up, narrowing the performance gap between the two precious metals.
Forecasts and Expectations
- Short-Term Forecasts: Experts at UBS expect silver prices to rise by about 20% over the next 12 months, starting from a price of around $32 per ounce.
- Long-Term Forecasts: By 2030, silver prices could rise to over $70 or $80 per ounce, indicating a long-term upward trend. Some estimates even suggest the price could reach about $73.33 by the end of 2030.
- Market Outlook: The consolidation phase in 2025 could be broken if market expectations continue to develop positively. The silver market is likely to exhibit steady growth in the coming years, appealing to long-term investors.
Investor Interest
- Safe Investment Forms: Geopolitical turmoil and economic uncertainties are boosting demand for safe assets like silver and gold.
- Technical Breakthroughs: The current technical breakthrough above the $35 mark may attract further investors looking to capitalize on momentum.
Overall, the current rise in the silver price indicates changing market expectations and a growing interest among investors in this precious metal. The combination of technical and fundamental factors, along with long-term forecasts, makes silver an attractive investment option for many investors.