#forecast

👉💡▶️⏩XAGUSD Forecast!

🥈Industry analysts project a fourth consecutive year of silver deficits in 2024, alongside the second-highest demand level. With silver prices hitting a 10-month peak, expectations are for prices to surge to $35-50 per ounce this year, driven by a projected 9% year-on-year deficit reduction. Despite the decline, deficits remain historically high due to anticipated demand growth.

➗ Additionally, the current gold-to-silver ratio stands above 80:1, suggesting that silver may be oversold compared to historical averages around 66:1.

📈 XAGUSD has successfully breached above the 25.900 resistance zone and the ascending triangle.

😵 Target 1: In the middle term, 29.00.
😵 Target 2: In the long term, FBS expects XAGUSD to move toward 48.00.

🐈‍⬛ Do you agree with the forecast? 💬

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