The largest gold platform in the Netherlands, GoldRepublic, has shared another pricing update with the public. Last year was very successful for the precious metals industry. Gold, silver and platinum have reached a new peak All-time high for gold. Currently stands Gold for €59,816 (+0.4%), silver at €711 (+1.0%) and platinum at €28,323 (+1.7%), compared to last weekend.
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Financial News
All-time highs and Bitcoin in the plus
Most recently, the Nasdaq and gold reached historic highs, while the S&P 500 and AEX are also close to their record highs. Bitcoin (BTC) is characterized this year by an impressive growth of around 160% since the beginning of 2023, making it one of the leaders in the financial sector.
Although some bonds and individual stocks underperformed, looking back at 2023, investing would have been a wise decision in most cases.
Silver in the spotlight
This year, silver has been a less notable investment, down slightly by 1% year-to-date. Back then, on January 1, 2023, the price of silver was €720 per kilogram. Despite temporary declines below €700, this offered opportunities for investors. Especially when you consider that silver is currently around 30% below its record high of €1,075 per kilogram set in 2011.
Looking ahead to the coming year, silver appears to offer attractive opportunities. Potential interest rate cuts by the Federal Reserve (FED) could stimulate the economy, which could increase industrial demand for silver. Demand could increase given expected growth in production of electric cars, solar panels, phones and computers, all of which contain silver.
For patient silver investors waiting for the price to rise, the future seems hopeful. Given possible silver shortages and increasing demand, a significant price increase could be imminent. However, it is important to recognize that investing in precious metals requires a long-term strategy.
GoldRepublic therefore asks the question: “Are you ready for a potentially bright future in silver?”
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