In a note to clients, analysts at GSC Commodity Intelligence reiterated that “2024 Is The Year of The Metals” – doubling down on their view that “any substantial pullbacks should be viewed as buying opportunities because Gold and Silver prices won’t stay low for long”.
According to analysts at GSC Commodity Intelligence – Gold prices remain well supported above the key psychological level of $2,300 an ounce, which suggests that there’s still plenty of upside ahead.
Elsewhere, now Silver’s stealth bull run has come out of hiding after prices surged above $32.50 an ounce for the first time in 12-years – the precious metal could be destining for greater upside.
To quote GSC Commodity Intelligence – “Silver prices trading between a range of $37.50 to $50 an ounce may become a real possibility this year. However, that forecast may prove to be conservative, if Gold prices continue to scale new highs in the coming weeks and months ahead”.
That’s welcoming news for the bulls, but painful for anyone sitting on the sidelines, who must now decide how much FOMO they can handle.