Silver was at a 2-week high above $25.5 an ounce on Friday, extending a 2.4% jump the day before and on course for a 1.6% weekly gain, in tandem with gold as investors cheered US Federal Reserve Chairman Jerome Powell’s comments suggesting the central bank was unlikely to hike rates anytime soon. Apart from the economic side, a global shift towards green technologies, such as solar panel production, supports demand for the semi-precious metal.
Historically, Silver reached an all time high of 49.51 in April of 2011. Silver - data, forecasts, historical chart - was last updated on July of 2021.
Silver is expected to trade at 26.80 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 32.36 in 12 months time.