In other forecasts, Citigroup was bullish on silver and palladium on a six-to-12 month view. Silver is expected to rise to $25 an ounce over that period on sustained investment demand and a recovery in global growth.
Strategists at Credit Suisse have noted a great silver performance lately and expect the white metal to look for the $26.22 resistance on a break above $21.14. What’s more, Gold/Silver ratio shows the latter is in line to extend its outperformance.
“Silver continues to push its way higher and there are seen clear similarities between price action now and that of gold last year. However, only above 19.65/21.14 would see a multi-year base confirmed, with next resistance then…
With recent trend reversals in the gold/silver ratio gaining in momentum, we could see SLV bulls in a strong position to outperform relative to many of their commodities counterparts. Since the middle of March 2020, the iShares Silver Trust has already experienced rallies that would have been thought of as impossible just a short time ago and this makes it a great time to learn how to trade CFDs in silver markets. Bullish investors have been decisive in response to updated assessments of the…
Included in the 103 silver objects that were discovered were homeware, including goblets and cutlery. They were primarily made in Austria or Poland, the news outlet added.
Peter Spina, president and chief executive officer at GoldSeek.com, referred to the forecast as a “strong promotion from Goldman Sachs,” following sideways trading for gold in the last couple of months.
The U.S. bank also raised its three, six and 12-month estimates for silver to $19, $21 and $22 per ounce from $13.5, $14 and $15 per ounce, respectively.
In January, a container holding 596 bars of silver was stolen from a LaSalle transportation company by suspects who allegedly used fake documents to take possession of the items.
