Tag '2024'

Silver Performance in 2024: Key Drivers and Future Outlook
In the first half of 2024, silver reached $30 for the second time and surpassed $32 for the first time since 2020. This surge is attributed to increased investor appetite, gradual improvement in the global economy, and rising demand for solar panels. Silver is expected to continue its upward trend, with price forecasts ranging from $32 to $50 per ounce in the second half of the year.

Gold Takes a Breather in Week 3 of May 2024

Global gold prices dropped by $80, settling at $2,334.2 per ounce, influenced by the Fed's concerns about prolonged inflation. India boosted its gold purchases, contrasting with Western investors selling gold ETFs. Local 21-carat gold prices fell to 3,140 EGP/gram.

Gold's allure increased after unprecedented rises recorded since early 2024, becoming the only metal with the most enigmatic performance in recent weeks, breaking away from the logic of Federal Reserve policy — which has been unclear about the timing of interest rate cuts amidst continued high inflation rates — and defying the traditional rule that presumes an inverse relationship between the dollar and gold. Central banks and investors hedging against growing fears of geopolitical unrest in the Middle East and Russia had the strongest impact in driving the gold to historic levels.

Silver is expected to outperform gold in 2024 with global demand forecasted to reach 1.219 billion ounces, driven by strong industrial applications and green economy initiatives. Prices are predicted to rise, with spot silver potentially reaching $32 per ounce in the second half of the year.

Gold glistens with promise in 2024! Prices poised to climb, with analysts charting a path to $2133 and beyond. Egyptian 21-Karat primed to settle over 3000 L.E. Dive in for the full golden forecast.