Welcome to Extreme Investor Network, where we provide you with the latest insights and analysis on the stock market, trading, and all things Wall Street. Today, we are diving into the exciting world of precious metals, specifically Gold and Silver.
While Gold has been stealing the spotlight this year, hitting record highs above $2,600 an ounce, all eyes are now turning to Silver. Analysts at GSC Commodity Intelligence are predicting that Silver could be the next metal to soar to new record highs, prompting traders to take notice.
Gold has been on an incredible rally since last October, with prices reaching new all-time highs on a staggering 37 separate occasions in 2024. Just this week, Gold prices surged to a new record high of $2,670 an ounce, surpassing its previous high of $2,658 reached just the day before. This represents a 48% gain over an 11-month period, outperforming Bitcoin, the S&P 500, and even the Magnificent Seven stocks.
The surge in Gold prices has also translated to a significant increase in the value of a standard 400 troy ounce Gold bar, now worth over $1 million dollars compared to $725,000 last October. This historic milestone is a testament to the strength of the precious metals market and the growing interest from investors looking to hedge against economic uncertainty.
As we continue to monitor the exciting developments in the precious metals space, stay tuned to Extreme Investor Network for more in-depth analysis and expert insights on where the market is headed next. Keep an eye on Silver as it gears up to potentially join Gold in reaching new record highs, and make sure you’re well-positioned to capitalize on the opportunities that lie ahead.