cryptoninjaFull Member
Posts: 43 · Reputation: 381
#1Dec 15, 2023, 05:17 PM
Silver has had an incredible run this year, jumping more than 160% as supplies are tight and stock levels on exchanges like COMEX and Shanghai drop. The surge is fueled by high demand from electric vehicles, solar energy projects, and data centers, alongside restrictions on supply and investors seeking safety amidst uncertainty. The limited availability of physical silver has made it one of the top-performing metals of the year.
It peaked at a whopping $79.32 on December 26 but has eased back to about $72.45 (slvon/USD). Analysts are pretty hopeful, setting targets between $77 and $100. The trend looks positive overall, with support around $72-$75 and resistance around $83-$85. Sure, some indicators hint it's a bit overbought, but the strong momentum makes me think silver could keep climbing into the new year. So, is this a smarter buy compared to gold?