When it comes to predicting the price of silver in 2023, there is no definitive answer. However, there are certain factors that can help us make an educated guess. One of the most reliable methods is to look at the long-term trend of silver prices, which suggests that the price of silver will be measured in hundreds of dollars per ounce over the next 10 years. This is in line with data from the Silver Institute, which predicts that silver will remain in a global supply deficit in the coming years.
Rate cuts are generally good for the physical prices of silver and gold ingots, as lower rates make it more profitable to invest in precious metals than in products that can generate interest. Market volatility can also have an effect on silver prices, as some investors may sell silver to cover losses in other parts of their investment portfolios. It is also important to consider the role that silver will play in the industries of the future. Silver has already established itself as an essential component in electronics and medicine, and it is likely to become even more important as new technologies emerge.
Overall, there is good reason to believe that silver is an undervalued asset compared to other investments. Although it is impossible to predict the exact price of silver in 2023, it is likely that it will remain relatively undervalued at this price level.