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Although the price of spot silver has been moving in a sideways trend recently, the grey metal is recording buying interest, which has witnessed an uptick in the past couple of weeks, and a recent artificial intelligence (AI) model has provided insights on silver’s potential performance in 2025. Indeed, silver’s price movements have lost their upside momentum and have recorded unimpressive action lately, but this seems to have only encouraged some investors to take the opportunity and ‘buy the dip’ in the expectation of improvement and, consequently, profit,in the future. With this in mind, Finbold has asked Llama 3.1, the AI model by Meta Platforms (NASDAQ: META), to share information regarding the potential price performance of silver in 2025, as well as specific silver price range predictions from the standpoint of August 22. As it happens, Meta’s AI platform has drawn upon available predictions by analysts like Keith Neumeyer, the CEO of First Majestic Silver, and AI-powered predictive models, such as those used by PriceVision, to set the potential price of silver in the estimated range of between $30 and $55 by 2025. Specifically, according to Llama 3.1’s information, Neumeyer has predicted that silver could hit the price of $100 per ounce “eventually,” Reuters (NYSE: TRI) has set it at $30 per ounce in 2025, whereas PriceVision expects $48 per ounce “by mid-2024 or mid-2025.” Investment expert’s silver price prediction Elsewhere, retired investment expert Kevin Bambrough has recently opined that demand for silver might soar due to Samsung launching a new solid-state (SS) battery for electric vehicles (EVs) that includes silver as a key component, expecting it to carry as much as five grams of the precious metal per cell. As he explained, “a typical EV battery pack containing around 200 cells for a 100 kWh capacity could require about…

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Filed under: News - @ August 22, 2024 10:23 am