Silver prices are soaring in 2024, making it a prime time to consider which silver stocks to buy. Propelled by a combination of factors, including safe-haven demand due to escalating geopolitical tensions, expectations of U.S. interest rate cuts, speculative buying and a surge in industrial metals, silver price is up 15% year-to-date.
Citi (NYSE:C) strategists recently noted the remarkable resilience of precious and industrial metals like silver, even in the face of a strengthening U.S. dollar and interest rate fluctuations. They predict the rally in gold, silver and copper could extend by 5% to 10% in the next 0 to 3 months and potentially 15% to 20% over 6 to 12 months. Given these predictions, savvy investors might start looking at silver stocks to buy as they see silver prices potentially hitting the $30 to $32/oz range.
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