The metals are having a peak market moment lately, with gold and silver both recording steady price highs. With gold hitting a stellar price high of $4000, the silver price is now on a path towards exploring new ascents, peaking at $50, marking a new all-time high.

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Silver Hits A New ATH Of $50

Silver price is now exploring new highs, topping $50 in another marvelous feat. The metal has been gaining steady traction alongside silver, touted as another leading safe-haven asset for the world to bank on. Factors such as the ongoing US government shutdown and constant dollar declines have led the metals sector to peak, with gold and silver outperforming major asset classes.

“Gold is up 54% this year. Silver is up 69.7% this year. Such rallies often happen when something big is about to break.”

Moreover, the price of silver is also up, primarily due to its increased usage in the commercial sector. Silver is now being used heavily in the sector of solar and green energy.

“Even before the recent price surge, PV manufacturers had made considerable progress in reducing silver usage per watt. The latest rally, however, has added urgency to the pursuit of breakthrough cost-reduction strategies. As technologies continue to evolve and scale up, this could increasingly erode silver demand within the PV sector,” the analysts said.

Experts are now predicting silver to claim new highs in the future, with its commercial demand spiking steadily in the future.

“As momentum continues to build, I expect to see more investment demand to continue to support prices. I think silver will continue to see deficits, and quite decent deficits, for the foreseeable future. Industrial demand will still remain pretty decent.” As quoted by Kitco

Future Prospects Of Silver

According to Rashad Hajiyev, a notable finance expert, silver is now heading towards a new path altogether, expecting a 60% to 80% surge by the year’s end.

“Gold broke out from a 13-year cup & handle formation in March 2024 and to date has gained 90%. Countries all over the world have been substituting their US Treasury holdings with gold, and the process continues to gain momentum. Gold has a long way to go over the years to come, but it is closer to a major pause than most anticipate. My revised $4k target is about to be met, but the gold-to-silver ratio is still above 80, so the grand finale is yet to come for this cycle. Gold could further gain 15 – 20% from the present price level, and silver 60 – 80% before year-end…”

Also Read: Silver Price Prediction: How High Is Silver Planning To Surge?