Connect with us

Hi, what are you looking for?

Your Retire Invest

Investing

“Will Silver Shine and Shatter All-Time Records in 2023?”

In recent years, the silver market has garnered increasing attention for its potential to produce impressive returns for investors. Since the beginning of 2019, the price of silver has risen substantially, with some optimistic forecasts suggesting it could reach as high as US$100 per ounce. Up until recently, this projection seemed like an impossible goal. But as of January 2021, the price has been trending strongly in that direction.

The silver market is complex and volatile, due to the fact that it largely follows global economic performance. When the world economy fares well, silver typically holds its value, as demand for the metal increases due to its various applications and investment opportunities. But if market conditions falter, the price can crash with relatively little warning.

Such has been the case in 2021, when optimism over the upcoming recovery from the coronavirus pandemic caused a surge in silver prices. With the expected introduction of fiscal stimulus, commodity markets began to gain traction, driving the silver price higher. Of course, there is no guarantee that the silver price will reach US$100 per ounce, but analysts and investors alike are increasingly optimistic.

Apart from broad market activity, there are other factors which could drive the silver price even higher. Investors have always favoured the metal for its perceived safety and long-term potential. But silver’s use outside of the financial world, such as in electronics and industry, also helps to drive demand. And while the price of silver is affected by both the supply of and demand for the metal, an increasingly limited supply combined with increased demand could result in a significant price surge.

The silver market is one of the most volatile and unpredictable markets out there. Its performance is heavily dependent on the overall economy and a variety of other factors. But if the world reaches the recovery stage of the pandemic and the supply and demand of silver both remain favourable, then the silver price could indeed reach US$100 per ounce. The timeframe for this to happen is currently estimated to be by the end of 2023.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like

Editor's Pick

Controversy ensued recently when a vocal group within the Republican party (in the United States) began to make the argument that the Speaker position,...

Economy

In an effort to promote stronger loyalty among customers, Delta Air Lines has recently announced changes that will make it more difficult to earn...

Top News

Intensified aerial strikes in and around the Hamas-controlled Gaza Strip have been met with retaliatory releases of Israeli hostages by the militant organization. On...

Economy

Citigroup, one of the world’s leading multinational investment banks and a behemoth in the financial services sector, recently unveiled plans to trigger a significant...

Disclaimer: YourRetireInvest.com, its managers, its employees, and assigns (collectively "The Company") do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2024 YourRetireInvest. All Rights Reserved.