In the report released today, Commerzbank has revised its forecasts for silver and gold prices, offering insights into the precious metals market for the end of 2024 and beyond. While silver sees an upward trajectory, the bank anticipates a decline in gold prices in the second half of 2024.
Commerzbank’s latest report includes updated forecasts for silver and gold prices. Notably, the bank has raised its projections for silver prices for both the end of 2024 and 2025. The revised forecast places the ounce silver price at $30 by the end of 2024, up from the previous estimate of $29. For the end of 2025, Commerzbank now expects silver to reach $32, compared to the previous forecast of $31.
Conversely, Commerzbank foresees a decline in the ounce gold price in the second half of 2024. The bank predicts that gold prices will drop to $2300 during this period.
As of now, spot silver is trading at $31.67 in international markets, representing a 0.97% decrease from the previous day. Meanwhile, gold is priced at $2415 per ounce, experiencing a 0.2% loss.
Source: Dunya.com / Prepared by Irem Yildiz
