2024-07-16 16:45:00 ET
Silver prices have seen significant gains through the first half of 2024, first breaching the US$25 per ounce mark in Q1 before soaring above the US$30 mark to over US$32 in May, a price not seen in more than a decade.
After starting the year trading in the US$22 per ounce range, the price for silver saw little change until March when the price began to gain momentum following the Federal Open Market Committee meeting.
While the Fed maintained its interest rate at the time, dovish language provided critical support as investors pushed the price above US$25. Silver markets continued their upward trend through April and into May when the metal climbed above US$32 for the first time since November 2012 and set a year-to-date high of US$32.07 on May 27.
For further details see:
Silver Price Update: Q2 2024 in Review