GOLD NEWS

Bank of America Predicts Bullish Trend for Silver, Prices to Hit $35/oz by 2026

Tue June 18 2024

Bank of America (BOFA) forecasts a bullish trend for silver, anticipating an increase in prices through the latter half of 2024 into 2025. BOFA analysts project silver prices to average $35/oz by 2026, compared to the current spot price of $29.19/oz. This optimistic outlook is driven by expectations of an end to central bank interest rate hikes and increased investment in precious metals. Additionally, they predict a positive spillover effect from the gold market, with gold prices expected to reach $3,000/oz by 2025. According to Bank of America, silver has underperformed gold due to weak industrial demand, but with the global economy improving, silver should start to perform better. Further support is expected as the next generation of more silver-intensive solar panels gains traction, potentially attracting more investors and creating a cycle that could push prices higher.

Source: https://news.bitcoin.com/