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Silver Price Forecasts for 2024 & Long-term Predictions for Next 5 - 25 years

The key feature of silver as an investment asset is the real value of silver. Silver is primarily a physical commodity. That makes it impossible for its value to fall to zero. Therefore, it also makes it a proper instrument for inflation protection.

Gold has similar qualities. But silver has a few differences from the most popular of the precious metals:

  • high demand in industry (electric vehicles, solar photovoltaic installations, etc.);
  • availability for a wide range of people due to lower price;
  • less popularity among investors (silver is hardly ever used in conservative strategies);
  • higher volatility of quotations (silver does not fulfill the requirements for a safe haven).
Month
1 year
3 years

About Silver

Traditionally, both silver and gold are considered "true" money. Both metals have an inverse correlation to the U.S. dollar. But in times of economic turmoil, the outlook for silver prices is negative. Investors seek shelter in gold with the Gold/silver ratio rising. Silver begins to overtake "its competitor" during periods of production recovery.

It is worth adding this asset to your portfolio for those who:

This precious metal is a good asset to diversify a large portfolio. However, it is improper for holding an emergency fund.

Investments in physical silver provide no passive income. As an alternative, you can consider buying stocks of mining companies, such as First Majestic Silver (AG).

These kinds of assets pay dividends. Besides, they are unlikely to suffer in the event of a crisis like the dot-com bubble.


Key Findings

  • The long-term outlook for silver is moderately optimistic. Specialists expect the price of an ounce to be at least $50 in 2050. The boldest predictions promise growth of quotations up to $100.
  • Silver forecast 2024 is bullish. For example, JPMorgan expects the price to reach $30 by the fourth quarter. And InvestingHaven.com experts are confident that the market will test the level of $32 in the first half of the year.
  • But there are also pessimistic analysts. According to the Longforecast service, the price of silver will not exceed $24 by the end of 2024.
  • BeatMarket's forecast for the coming month is neutral.

Price Today

62.79$

The price of silver is largely determined by the balance of supply and demand. But market expectations of a recession are making serious adjustments. The best time to invest in this metal is during periods of economic growth.

Silver Price History Chart

Key dates

2008 year

The 2008 crisis was deflationary in nature. Silver was getting cheaper, as well as other assets. From the beginning of March to November its quotations fell by more than half. They fell to $9 per ounce.

-26.90%

2011 year

Between April and May, silver traded around an all-time high of $49. This short-term peak was due to expectations of high inflation rates. Concerns related to the downgrade of the US credit rating played an important role.

+55.73%

2020 year

Amid panic in March, the price fell to $11.77. But already by August, the silver market reached the maximum for 7 years. Quotes reached $29.14 per ounce. This was due to the growing demand for the metal amid falling supply. Because of the pandemic, 101 mines were closed. The volume of mining has decreased dramatically.

+47.44%

Silver forecast for today

Growth

Silver price demonstrates positive dynamics. There is every reason to believe that this situation will not change in the coming days. The current moment is proper for building up positions in the metal regardless of the investment horizon.

Minimum forecast cost

61.37 USD

Maximum Forecast Value

67.83 USD

% value change

-3.67%

Silver Technical Analysis

Silver bars

Silver price forecasting can be based on technical analysis. For this purpose, popular tools and indicators are used. For example:

  1. Bollinger Bands consist of three lines. When the stock price chart touches the upper or lower extreme, it signals a potential change in price direction.
  2. Moving averages are used to identify support and resistance points, and they also help forecast a trend reversal. If stock prices are above the moving average, it is considered a buy signal.
  3. The RSI (Relative Strength Index) is used to determine moments of overbought or oversold conditions. If the indicator exceeds 70%, the asset is considered overbought, and there is a high probability of a price decline. An asset is deemed oversold if the RSI value is below 30%.

The technical analysis tools listed are among the simplest for beginner investors. However, they can provide fairly reliable forecasts.

All technical analysis indicators share a common drawback: they only consider past data. As a result, some signals may turn out to be false. Fundamental factors and significant news can lead to abrupt changes in trends.

The data on popular indicators and tools are given below. You can adjust your trading strategy based on them.

Buy
25% Sell
41.67% Neutral
33.33% Buy

Oscillators

Buy

Buy: 16.67%

Sell: 0%

Neutral: 83.33%

Moving Averages

Neutral

Buy: 50%

Sell: 50%

Neutral: 0%

Trend Indicators

Header Sell Neutral Buy Action
Moving Averages

50%

0%

50%

 Neutral
Oscillators

0%

83.33%

16.67%

 Buy

Oscillators

Name Value Action
RSI(14)

47.94

 Neutral
Stochastic %K (14, 3, 3)

62.14

 Neutral
Stochastic RSI Fast (3, 3, 14, 14)

62.14

 Neutral
Williams Percent Range (14)

-59.27

 Buy
CCI(20)

-33.55

 Neutral
Ultimate Oscillator (7, 14, 28)

47.72

 Neutral

Moving Averages

Period Simple Exponential
MA10

61.02

63.32
MA20

68.03

65.89
MA30

71.84

66.29
MA50

67.04

63.45
MA100

50.23

54.34
MA200

37.49

43.43

Pivot Points

Pivot Classic Fibonacci Camarilla Woodie Demark
Middle 61.638333333333 61.638333333333 61.638333333333 64.2205 67.168
S3 - 6.2203333333333 57.57905 - -
S2 6.2203333333333 27.390009333333 62.659033333333 8.8025 -
S1 39.519666666667 40.468657333333 67.739016666667 44.684 50.579
R1 94.937666666667 82.808009333333 77.898983333333 100.102 105.997
R2 117.05633333333 95.886657333333 82.978966666667 119.6385 -
R3 172.47433333333 117.05633333333 88.05895 155.52 -

What affects the price of silver

Inflation

Silver, as with most commodities, is considered a defense against inflation. But this is true when rapid price growth is accompanied by positive expectations. Precious metal prices often fall when a recession is anticipated.

Currency fluctuations

US dollar fluctuations have a significant impact on silver prices. The stronger the dollar, the more pressure on the price. A weak dollar relative to other world currencies favors its growth.

Another important factor is fluctuations in the exchange rate of the most popular metal. Silver quotes quite often follow the dynamics of gold. But sometimes it happens with a noticeable time lag.

Geopolitical uncertainty

Half of the demand for silver is formed by industry. Accordingly, the price of the metal is growing on expectations of lower production levels. This can also happen in case of political conflicts.

But more often the deterioration of the geopolitical situation affects first of all the price of gold. And then, silver quotations are only indirectly affected.

Interest rates

The value of a troy ounce is inversely proportional to the Federal Reserve rate. The higher the rate, the more profitable risk-free assets - deposits and bonds. Therefore, investors are less interested in risky investments. In addition, there is a lower probability that the final profit will justify the risks.

Supply constraints

As the pandemic demonstrated, lower production levels lead to higher prices. Many experts note that the industry is already experiencing a shortage of the metal. But there is no reason to believe that there will be an acute shortage of silver in the coming years.

Is silver a good investment

Short-term

(1-6 month)

The silver price chart is descending. There is no reason to believe that the trend will be reversed in the coming days. It is advisable to postpone the purchase of the asset.

Medium-term

(6-12 month)

The silver price forecast for the next 6-12 months is negative. There are reasons to expect further decrease of quotations. The asset is not recommended for purchase with an investment horizon of less than a year.

Long-term

(1 year+)

Long-term silver price forecasts are negative. The asset is not recommended for investments with a horizon of a year or more. Many of the analysts promise stagnation of quotations in a narrow range. There is an opinion that the cost of an ounce will fall below $20 in the next few years.

FAQ

What will the price of silver be in 10 years?

Experts say that in the future silver prices will be higher than the current ones. Many analysts believe that in 10 years, quotations will approach the $70-$80 threshold.

What will the price of silver be in 2030?

The average price quoted in the forecasts is $55. But the exact figure will depend on the inflation rate. The industry's demands for increased production will also have an impact.

Is silver about to go through the roof?

Such a scenario is unlikely to happen. Few analysts predict a multiple of silver's value even on a decades-long horizon.

Will silver reach $30 per ounce?

Silver quotes have exceeded this mark several times. There are reasons to assume that it will happen again.

Will silver appreciate in price when the economy collapses?

This is very unlikely. Manufacturing accounts for half of the demand for silver. In recessionary periods, production declines. So demand for the metal will fall.

Will silver ever be $100?

It is matter of time. This is likely to happen after a few decades due to inflation. There are also experts who claim that silver is now severely undervalued. They predict a rise in quotations above $100 already in the coming years.

Does Warren Buffett own silver?

No. He bought the metal in 1997 and held it until 2006, but then sold all the bullion. Since then, Buffett has not returned to investing in silver.

Will silver ever become rare?

Such forecasts are out there. They are based on expectations of rapid industrial growth. However, this opinion is not shared by all experts.

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