Silver prices surge over 20% this month, driven by industrial metals, gold, and geopolitical tensions, with gold/silver ratio below historical average.

Silver prices have surged over 20% this month, reaching $32.50 and trading around $31.94, driven by rising industrial metals like copper and zinc, record-high gold prices, and geopolitical tensions. The gold/silver ratio has dropped below the historical average, indicating silver may outperform gold. Key resistance is around $32.50, with potential bullish continuations above $35 and a target of $37.50.

May 20, 2024
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