Will Silver run wild in 2024? So far this year silver has been lagging drastically, in comparison with gold. Silver is down 4.26% year to date and gold is down 1.79% year to date. Strange considering inflation is still prevalent. Are prices of silver and gold being suppressed so whales and governments can buy cheap?

Central banks’ gold purchases have accelerated to record levels in recent years as they seek to diversify reserves and reduce credit risk. China and Russian central banks are leading gold purchases, with India, Turkey, and Brazil also increasing bullion buying. The world’s central banks are sustaining two successive years of more than 1,000 tons of net gold purchases, as the World Gold Council reported in January. Importantly, gold stays above the $2000 level despite outflows in gold ETFs, highlighting the strength of the core demand for gold holdings. Another factor bolstering the price of gold is the apparent achievement of a “soft landing” in the US economy, with the latest data showing cooling but still robust growth. From here, markets seem to expect a powerful rebound in growth and corporate profits, supporting strong equity returns. Famous Analyst Vince Lanci sees that if the US economy experiences a soft landing, gold could reach $2150 by the end of the year.

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