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When you sell gold to us, we will explain every step of the process to help you understand how selling gold works. With your XRF Precious metals Analyzer, we can test your gold to know exactly what purity your gold contains. This helps us assess your gold to give you the most when you sell.
Silver bounced around a little but was relatively flat throughout 2023, so what is the silver market outlook in 2024?
We don’t encourage speculation, since anything can happen, but experts are expecting price strengthening and increases in demand in the year ahead.
What Happened With Silver in 2023?
Silver was at $23.96 per ounce at the beginning of 2023.
It hit a high of $26.06 in May, rebounding from the year low of $20.01 in March.
Overall, with a year-end closing price of $24.33, silver saw a 1.53% growth in 2023.
What are Experts Forecasting for Silver in 2024?
Because of industrial uses for silver, experts are forecasting higher demand, which can also lead to higher prices.
For example, silver is used in solar panels, electronics, electric vehicles, and medical applications. And ongoing tech advancements, along with the global push towards clean and renewable energy, are expected to significantly increase the amount of silver needed to keep up with the demand.
Most of the industry shares the expectation that silver prices will continue to rise to some degree in 2024.
Nasdaq published an opinion that silver could see a high of $34.43 in 2024, while J.P. Morgan forecasts an average of $30/oz for silver by the fourth quarter of 2024.
Allegiance Gold sums up 2024 predictions this way: silver supply to drop + silver demand to increase + lower interest rates + the possibility of more bank failures and war = higher silver prices in 2024.
What Does this Mean for You?
All signs point to silver remaining a good investment in 2024. This means it’s a good time to both buy and sell silver.
But as to what this means to you individually, it’s always best to seek professional financial advice before taking action. Simply call (909) 985-4653 or click here for more ways to contact us.
Gold hit a record high of $2,135.40 per ounce in December 2023, but what is the gold market outlook in 2024?
We don’t encourage speculation, since anything can happen, but experts are expecting further price gains in the year ahead. In part, this is because gold and silver have traditionally been strong markets in times of financial uncertainty.
What Happened With Gold in 2023?
2023 began with the gold market at $1,824.16 per ounce.
It’s normal for gold prices to fluctuate somewhat throughout the year. For example, gold was at around $1,800 per ounce in October 2023 after a high of $2,073.29 in May 2023. And after the high of over $2,100 in early December, gold closed 2023 at $2,062.92.
But despite these fluctuations, with opening 2023 at $1,824.16 and closing the year at $2,062.92, gold saw an overall increase of 13% in 2023.
What are Experts Forecasting for Gold in 2024?
In its 2024 outlook, the World Gold Council looks at several scenarios, with the most likely outcome indicating that gold performance will be “flat with upside potential” in the coming year.
That aligns with J.P. Morgan’s forecast of an average of $2,175/oz for gold in 2024.
Similarly, UBS forecasts prices of up to $2,250/oz by the end of 2024.
What Does this Mean for You?
All signs point to gold remaining a good investment in 2024. This means it’s a good time to both buy and sell gold.
But as to what this means to you individually, it’s always best to seek professional financial advice before taking action.
If you’re looking to take advantage of the strong gold market outlook for 2024 by selling gold — jewelry, coins, bullions, or even dental gold — contact us for pricing. Simply call (909) 985-4653 or click here for more ways to contact us.
