Silver prices could touch a 9-year high in 2023 — with a bigger upside than gold

Kon How
2023-01-25

Silver could hit a nine-year high of $30 per ounce this year and become a better performer than gold.

Insufficient supplies of silver — as well as its tendency to be a better performer than gold in periods of high inflation — are the reasons. Silver is a material commonly used in the manufacturing of automobiles, solar panels, jewellery and electronics.

Spot silver prices notched a record high of $49.45 in 1980 against the backdrop of a 13.5% inflation rate, up from around $4 in 1976, when the rate of inflation was cooler at 5.7%.

Precious metals can also be considered as a currency, against the USD when the faith and trust in the fiat currency is diminishing.

The real danger will be with the continuous rise in interest rates and yet the dollar starts weakening, just like the pound. The dollar is trading lower in the past weeks, I am keeping watch on this closely. However, it is not all bad news, we can invest differently…

$Australian Dollar - main 2303(AUDmain)$  $Silver - main 2303(SImain)$

Follow me to learn more about analysis!!

Macro Trend
Monetary policy, various types of price indices... Here is everything about the macro economy!
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

Leave a comment
11