Forget Gold, Silver is on Fire and Could Hit $25 an Ounce by the End of 2016

Silver has seen double the percentage gain of gold since Brexit

by Myra P. Saefong
Market Watch

Silver has outshined its sister metal since the U.K.’s decision to leave the European Union sparked turmoil in global equities markets, and the rally could lift the white metal to a three-year high.

Gold and silver futures recently reached their highest levels in about 2 years. On Wednesday, gold futures settled at $1,367.10 an ounce, marking their highest finish since March 2014, while silver futures hit a 23-month high of $20.203 an ounce. Prices for both eased back a bit Thursday, with silver booking its first decline in seven sessions.

But silver prices are still set to surpass some analysts’ $21 to $22 predictions from earlier this year and talk of $25, $27, and even $32 an ounce have emerged. Those levels would take prices to their highest since at least 2013.

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