With index funds and bonds not as reliable as they seem to have been in the past, investing in precious metals such as silver is on the rise. This article overviews how the price of silver has changed over time so you can adequately predict how it might change in the future.
If you really want to learn the ins and outs of silver investing you should listen to my friend Minesh Bhindi who has some experienced advice. Click here to register for his next free webinar.
If you’ve read my guides regarding how to invest in silver, the current situation of silver, and whether it is wise to invest on silver coins this year or not, then you might have a good idea on where this article is going. Basically, what I said was the industrial demand for silver is continuously rising, meaning there are more and more practical uses for the precious metal as each day passes, meaning the price will inevitably rise.
I also said that investment demand for silver is on the rise, meaning more and more people want to convert some of their assets into silver. At the same time, the supply for silver does not currently meet all these demands, making the metal rarer, and more difficult to obtain. This is great news for everyone who currently owns silver. They can resell it at probably a higher price than they initially got it. Not only did they preserve their wealth from the fluctuating values of paper currency, they even made a profit! They basically made their wealth grow by investing on the right thing: silver. Now yes, silver is a wonderful idea for an investment, and you can read my explanation on why buying silver coins is a good idea in 2016 by clicking here, but doing so is still a tricky ordeal.
Like I always say, you need to know exactly what you’re doing before you jump right into this new investment idea. As with any form of investment, there are risks that you’re gonna have to keep in mind. There are statistics you need to be aware of. What you need are silver price projections.
Predicting the price of silver from this year beyond is a good way to get started, since you’ll know exactly what will happen to your assets once you convert them into precious metal. This silver price forecast will be of great use.
The Silver Price and The Market in 2016
So to give you a much needed update, the silver market has taken off in spite of gold’s struggle to make new gains. It’s also possible that the 11-month high that silver has been experiencing is only the beginning of it. Some of the most recent silver price predictions shifted because of the metal’s performance in the market. This can be attributed to China’s economic growth, wherein both silver and platinum are benefitting from these shifting expectations.
Considering all current factors that are in play, here is my latest silver price forecast. Do take note that the price is in US dollars per 1 troy ounce.
So for the month of August this year, the maximum price can reach 20.75 while minimum is at 18.62. It’s expected to stabilize by next month, September, but it the maximum price for silver during the month of October can reach 21.11 with a minimum of 19.10.
It will continue its upward trajectory well into November, wherein the maximum price may reach 22.17 while the minimum would be 20.5. The average price for this month is 20.86.
By the end of this year, silver should be able to reach a maximum of 21.11 with a minimum of 19.05. Not bad since we started with around 20.0 from August.
Silver Projections For 2017
The next year will be great for silver, with January 2017 sales reaching a maximum price of 22.10 and a minimum of 20.10. February will continue this trend with a maximum price of 22.93 and a minimum of 20.75. The average price for this month should be around 21.64.
By March, you can expect the maximum price for silver to reach nearly 24, while minimum will be at 21.65 – note how this is above the maximum of the predicted price for December 2016. Average price for this month is 22.55.
April 2017 will see silver’s price rising to nearly 25.0 with a minimum of 22.33. The month of May will see a slight downgrade with a maximum price of 24.22 and a minimum of 20.82. June and July may follow this downward trend, with a max price ranging from 23.07 to 24.17, while the minimum may drop to 20.82.
Still, with the continuous discovery of new industrial applications for silver, we shouldn’t be so surprised to see these prices go above and beyond these current predictions. The price of silver coins and silver bars are still far more stable and consistent in comparison to the value of paper currency. If you wish to protect your assets reliably, precious metals such as silver make good investments. And with the promising trajectory of silver’s demand and supply, we can only expect to gain more from this type of investment.
You have some time yet to learn and familiarize yourself with this type of investment. There are resources and even a free webinar available that teach you. Wealth adviser Minesh Bhindi has a free webinar in which he teaches some basic investing principles and techniques that will help you cash-flow your silver and earn you annual returns of as much as 26.4%.