Silver Prices Jump 17% in 2019. Experts Predict Another Bright Year for the Precious Metal

If you invested in silver at the beginning of 2019 when we predicted prices to rise, then you’re likely enjoying the jump in the value of your investment right now.

For those still considering investing in silver, looking at last year’s performance suggests the start of 2020 is a wise time to buy.

Silver Spot Hit Above $19.50/oz in 2019

The spot price of silver increased from $15.44 at the start of 2019, peaking to $19.57 an ounce by the beginning of September. Silver spot ended the year at $18.05 an ounce on December 31.

Sentiment around silver remains bullish, as the spot price has averaged above $18 an ounce thus far into 2020—price gains as much as a testament to the strength of expert predictions as to the age-old resilience of precious metals in the market. 

What Drove The Demand and Price Jumps in 2019?

• U.S.-China Trade War
• Fed Interest Rate Cuts
• Debt Crises
• Stock Market Volatility
• Coming Recession
• Political Uncertainty at Home and Abroad
• Industrial Consumption (Solar Panels, Electric Cars, Electronics, etc.)

Where Are Silver Prices Headed in 2020?

Many of the same factors influencing rising silver prices last year will persist in 2020. So, will the price of silver continue to rise?

The silver price forecasts of industry experts and analysts, as well as major financial institutions, proved reliable last year. What do they foresee for the precious metal in the year ahead?