The market conditions are being shaped by various factors, including economic uncertainty, inflation concerns, and growing demand for safe-haven assets. According to a recent report by CNBC, silver prices are poised to reach a nine-year high in 2023, potentially outpacing gold in terms of returns. Gold is not the only precious metal soaring high.
This is an increase from the August 2023 price of about $1,915. JPMorgan predicts gold will average $2,012 by the middle of 2024 and hit $2,175 per ounce by the fourth quarter of 2024.
