Short interest in SLV has decreased by 12%, reducing downward pressure. The SLV stock price forecast adjusts probability models higher for a breakout above $27 in the near term. Gold and silver prices continued to climb on Oct. 21, 2024, reflecting ongoing investor interest in precious metals. Gold futures surged to new highs, increasing by 0.8% and approaching $2,750 per ounce. Silver futures also saw substantial gains, rising over 3% before paring back, briefly hitting $34 per ounce — the highest level in 12 years. PAAS stock is up 28.9% in the last 30 days . However, investors may want to wait for a pullback. That's because short interest, while only about 2% of the stock’s float, increased over 18% in the last month. That means that much of the stock’s gains may be from short covering. As global mining output faces supply constraints, the SLV stock price forecast factors in potential price squeezes. Upside scenarios push SLV toward $28 over the next six months, contingent on sustained ETF demand.
