After Gold's 'Moment In The Sun,' It's Now Silver's Turn: These ETFs Linked To The Shiny Metal Are Rising In Thursday's Pre Market
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Oct 24 2024
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Source: Benzinga
Silver Prices Surge: Silver prices have risen significantly due to global tensions, interest rate cuts by the ECB, and uncertainty surrounding the U.S. election, leading to notable gains in silver-linked ETFs, with year-to-date returns exceeding 40% for several funds.
Market Impact: The increase in silver prices has put five U.S. banks at risk of substantial losses from their short positions, estimated to be $1.3 billion underwater, as silver prices reach their highest levels in 12 years.
Analyst Views on GLTR
Wall Street analysts forecast GLTR stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for GLTR is USD with a low forecast of USD and a high forecast of USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
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Current: 244.410
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Current: 244.410
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About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
