Silver could hit $50 per ounce by year-end — Kitco News

A strategist at RJO Futures, Bob Haberkorn, shared his outlook for silver during an interview with Kitco News. He expects the gray metal prices to rise. 

Haberkorn believes that silver could gain 40% or more in the medium term. He projects the prices will hit $40 per ounce in the nearest future and $50 per ounce by September. 

At the same time, the strategist does not expect the gold-to-silver ratio to return to its historical average soon due to the yellow metal’s record rally. Even so, silver could still outpace gold, Haberkorn says. 

Meanwhile, Kevin Grady, president of Phoenix Futures and Options, thinks prospects for the gray metal are hard to calculate now. Demand for silver is largely driven by the industrial sector, which is facing negative effects of global trade tensions.

Additionally, physical silver is much more expensive to move than gold, Grady notes. This could be another factor holding the gray metal prices back.