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Home Silver Price UBS Highlights Silver Price Surge Amid Bullish Gold Trends(May 24)

UBS Highlights Silver Price Surge Amid Bullish Gold Trends(May 24)

by anna

UBS has observed a notable upswing in silver prices, attributing this surge to a growing investor confidence in bullish gold trends. The gold-to-silver ratio has experienced a sharp decline, marking its lowest levels since late 2022 to early 2023. Despite a recent retreat in precious metal prices, the ratio has maintained its position near these lows.

Silver has captured the attention of investors who previously overlooked the rise in gold, as well as those seeking more volatile trading options. The metal’s appeal has been further bolstered by a recent wave of risk-on sentiment and a strong performance in the industrial metals sector, resulting in a breakout in prices.

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The supply and demand dynamics for silver are also drawing attention, with tight conditions providing additional support for the metal’s value. UBS suggests that these factors, coupled with the current momentum in precious metals, could lead to significant upward potential for both gold and silver in the future.

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UBS remains optimistic about the outlook for silver, anticipating considerable upside risks to their projections for the metal, as well as for gold. This positive sentiment reflects the belief that a comeback can often be stronger than the initial setback, hinting at a robust recovery for silver prices following any declines.

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