Is 2024 the BIG YEAR for Silver? My 2024 Silver Price Prediction

In this video I talk about silver price in 2024 and how high silver price can go. I give my personal 2024 silver price forecast and 2024 silver price prediction. I talk about how silver price preformed last year and how I expect it to preform this year. Silver price can be very volatile. I do not have a crystal ball and I do not know where silver price will go in 2024. I can only guess based on data and previous silver price movements. My silver price prediction for 2024 is the same as last year. I am predicting that silver price will go up to $32.33 by the end of the year. This silver price prediction focuses on the lowing of interest rates and the fact that it is an election year. I will be making updates silver price videos as the year progresses. If you want to be silver stacking in 2024 or if you want to buy silver 2024 for fun then this is the video for you.

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Happy New Year it is officially 2024 what we’re going to do in this video is take a look at what happened to silver price and gold price in 2023 and see if we can’t figure out what’s going to happen this year so let’s get into it buy your gold and silver online from

SD bullion new customers get gold or silver at spot by visiting sdbullion.com slne thank you so much for watching I do s sincerely appreciate it make sure to stick around for the end of the video and I’ll be giving you my silver price prediction for this year but let’s take

A look at what silver did in 2023 so this is the one-year chart now silver price started out the year at $24.10 and it moved around quite a bit but it finish the year at $23.97 so silver went down like 13 cents for the year so was it a good year for

Silver I mean if you were able to stack it on the cheap if you were able to acquire a lot of silver on the dips then yeah it was a great year I mean usually it’s going to be volatile the low for the year was $204 and the high for the year was

$266 so about a $6 swing but uh if you were able to stack it on the cheaper side then you certainly did okay I think uh for most of the year it seemed like it was really under that $24 Mark so lots of opportunities to buy more silver

We’re going to see what happens in 2024 now here’s the thing I don’t know what’s going to happen all right I mean I don’t have a crystal ball you don’t have a crystal ball at least I don’t think you do if I did have a crystal ball and I

Could tell you exactly what was going to happen to silver price then I would be a very wealthy man and I probably wouldn’t be making YouTube videos so all we can do is sort of take a look at the past and we can come up with some

Guesses on what we think is going to happen but the bottom line is I don’t know so let’s take a look at gold in 2023 gold did a lot better than silver so it started the year out $1,829 and the end of the year we’re actually sitting at $ 2,

$734 so gold did really really well started out 1829 ended up 2073 so it went up uh let’s call it 250 bucks so gold yes gold was the winner for 2023 hopefully if you were stacking gold you bought it on the dips right I mean we

Had $1,800 gold down here I think it was close to 1,700 range but not quite uh either way we’re sitting basically at an all-time high for gold right now so is it going to continue to move higher from here it does does seem like that may be

The case if we take a look at Platinum Platinum was uh it was all right it started the year at $1,073 and ended at 104 so it actually moved down padium was the big loser of all the medals this year though padium got destroyed it started the year out

$1,800 now it’s sitting at 1141 so padium was the big loser this year uh if we take a look at the gold silver ratio for the year it started out at 75 and end of the year at 86 so right now the gold silver ratio is favoring silver it

Is screaming stack silver buy silver you should be stacking silver that’s what the GSR is telling me remember my strategy if it’s over 80 I primarily stack silver if it’s below 60 I primarily stack gold and if it’s between 60 and 80 then I stack a combination but

Right now it is above 80 so it’s screaming silver there was a few times in 2023 where it dipped into the 70s and gold in my opinion was a decent buy these were kind of the lows for gold if we look at the chart we can see it sort

Of matches up uh but silver I mean silver is just a great buy right now in my opinion because it’s at around $24 which is about half of its all-time high this has been the story for the last few years gold is at all-time highs silver

Around half of its all-time high so I really think over the last 3 four years silver has been the better metal to stack that’s primarily what I’ve been stacking but what about moving forward is 2024 going to be the big year for silver if we take a look at the Target

Rate probabilities for the January 31st meeting we can see 84.5% chance that rates will stay the same now why do we care about rates well rates will affect the dollar if interest rates move down this means well it’ll be easier to take loans which means more cash essentially

Will be created because when you take out a loan you create more cash and when there’s more cash this means there’s more inflation and a weaker dollar and therefore typically we’ll see higher Metals prices that’s the logic there so if rates move down usually we’re going

To see gold and silver prices move up that’s why gold has been moving up in anticipation of rates coming down now only a 15.5% chance that they’ll come down this month however if we move to March we can see 73.5% chance of the First Rate cut so

This is really bullish for Metals if we fast forward to June we can see 56% chance that rates are down 75 basis points so more Cuts expected by the summer keep moving forward Ward we’ve got July another rate cut and then in September rates are basically parked November rates are parked and December

It’s kind of split but looks like maybe one more rate cut so we’ll have to wait and see obviously how all of this plays out but the number of rate Cuts will certainly affect how well medals do if rates do indeed drop all the way down to 350 basis points like they’re actually

Predicting they will this year here this is super bullish this could be the big year for silver and for gold again I want to reiterate I don’t know what’s going to happen just looking at the numbers looking at the data it seems like this could be the year we could see

Silver start taking off obviously it is an election year the United States of America we’re having another presidential election so this is probably going to push prices up because of uncertainty that’s another thing that’s bullish medals when there’s uncertainty usually prices will move up obviously presidential election is a big

Thing I did a video uh I think a month or two months ago talking about presidential election years and usually the medals do go up so with everything sort of coming in line for 2024 I am thinking we are going to see silver price move a bit higher now my

Prediction for 2023 which I made in 2022 was that silver price would have hit $32.30 by right now by today that’s where I thought the price would be however I didn’t know that rates were going to go up and stay up for longer and not have come down yet I was

Thinking rates would have already started coming down obviously I was completely wrong on that but based on the fact that rates probably are going to come down this year in 2024 I am basically moving my price prediction from last year to this year I think that silver is going to going to hit

$32. 33 by the end of the year that is my prediction and you can hold me to it I maybe completely wrong but I may be exactly right so my prediction for gold is that gold is probably going to charge higher now it may bounce around a little

Bit uh this month next month you know it could even go back below 2,000 if it does I think that’s a good buying opportunity but I think gold is going to move up and by the end of the year probably be I’m going to say 23 $0000

All right that’s where I think Gold’s going to be so I think Gold’s going to move up a bit Silver’s going to move up a lot more I have no idea what platinum and plaum are going to do I’m not even going to venture a guess on those two

But uh I expect volatility all right so moving back over to Silver I am curious where do you think silver is going this year definitely put your predictions and your forecast Down Below in the comment section I want to wish you all a wonderful and happy New Year here may

You be prosperous and stack all the medals that you want to in 2024 thank you so much for watching my videos I will see you all in my next one silver dragons out