Silver surged to above $25 an ounce in the third week of December, amid increasing hopes a new coronavirus-aid bill could be approved soon by the US Congress. Both Democrats and Republicans are confident that Congress would agree on around $900 billion package before the holiday break. Still, progress on COVID-19 vaccines and prospects for a swifter economic recovery continue to cap gains.
Historically, Silver reached an all time high of 49.51 in April of 2011. Silver - data, forecasts, historical chart - was last updated on December of 2020.
Silver is expected to trade at 24.95 USD/t. oz by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 22.63 in 12 months time.