Silver (SIU24), a precious metal with industrial and monetary significance, is poised for new highs after a recent pullback. Silver closed Q2 just below the key $30 level after peaking at a decade high of $32 in May, but continued to break out above $31 throughout the first half of July.
With the technical trend pointing higher, anticipated rate cuts should also support silver's allure as an investment. JPMorgan (JPM) forecasts silver prices to average $36 per ounce by 2025, with the bank predicting in its mid-year outlook that “central bank easing could create upside risks for gold and silver.”
