Silver fell 3.7% to $22.6 an ounce on Friday and booked a 6.5% plunge on the week, the third consecutive weekly decline and the biggest since late-September. Increasing optimism that a coronavirus vaccine could be used soon and the economic recovery would gather steam in 2021 is raising investors' appetite for riskier assets although a weaker dollar, a slowdown in the US labour market recovery and signs the Fed and the ECB could provide more accommodation if necessary are preventing further losses. Silver is up near 25% so far this year.
Historically, Silver reached an all time high of 49.51 in April of 2011. Silver - data, forecasts, historical chart - was last updated on November of 2020.
Silver is expected to trade at 22.44 USD/t. oz by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 20.35 in 12 months time.