Silver Outlook

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Expert silver market insights

Our quarterly silver outlook is published in our Quarterly Metals Report, which covers base, precious and ferrous metals. The impact of supply and demand fundamentals and macroeconomic implications for silver is analysed. Our research team produce silver price range forecasts as part of the report.

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Silver Outlook – Q1 2024

Silver closely followed gold in the first half of Q4 2023, climbing to $25.48/oz at the start of December as the dollar depreciated amid growing expectations of the start of monetary easing. As we approached the end of the year, however, silver found it challenging to maintain pace with gold, as the deteriorating global economic landscape exerted downward pressure on the industrial demand for the white metal. In Q1 2024, we expect silver to trade rangebound between $22/oz-$25/oz, slightly underperforming gold as the industrial aspects of the white metal weigh on demand.

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