Silver Price Analysis: XAG/USD to trade at $20.50 by year-end – Commerzbank

FXStreet Insights Team FXStreet

Silver (XAG/USD) is trading slightly above the $20.50 mark. This price is the year-end forecast of strategists at Commerzbank for the precious metal.

Silver to surge towards $25 by end-2023

“We have confirmed our price forecast for silver: the silver price is likely to be trading at $20.50 by year’s end, and to increase to $25 by the end of 2023.”

“Thanks to its latest upswing, silver has noticeably reduced its previous significant undervaluation as compared with gold. Silver has further catch-up potential, in our view. This is suggested not least by the important role that silver plays in decarbonisation, the buzzwords here being photovoltaics and electric vehicles.”

Author

FXStreet Insights Team

FXStreet

The FXStreet Insights Team is a group of journalists that handpicks selected market observations published by renowned experts. The content includes notes by commercial as well as additional insights by internal and external analysts.

AUD/USD stays defensive below 0.7150 after Chinese data

AUD/USD remains on the back foot below 0.7150 in the Asian session on Tuesday, close to an over three-week low touched the previous day. US bond yields hold near multi-year highs ahead of the FOMC meeting and oil-driven inflation risks, supporting the US Dollar and weighing on the currency pair. Mixed Chinese activity data for August also fail to inspire the Aussie.

USD/JPY extends gains toward 155.00 amid USD resurgence

USD/JPY keeps pushing higher toward 155.00 early Tuesday, looking for more upside, as traders await the FOMC and BoJ meetings this week. Meanwhile, Fed rate-hike bets and oil-driven inflation risks keep US bond yields near multi-year highs, supporting the US Dollar and the pair. That said, a more hawkish repricing of the BoJ normalization path might continue to underpin the Japanese Yen and could limit USD/JPY's upside. .

Gold regains $4,300 as traders await FOMC meeting

Gold regains $4,300 in the Asian session on Tuesday, but remains vulnerable near a one-month low, touched the previous day. Fed rate-hike expectations and inflation concerns remain supportive of elevated US bond yields, underpinning the US Dollar and weighing on the non-yielding bullion. Bears, however, might wait for the outcome of a two-day FOMC meeting on Wednesday before placing fresh bets.

WTI rises above $98.50 amid Middle East supply fears

West Texas Intermediate oil price extends its gains for the second successive day, trading around $98.60 per barrel during the Asian hours on Tuesday. Crude oil prices appreciate as traders continue to navigate heightened uncertainty over global supply.

Hard assets are entering their next explosive phase – Are you positioned?

It’s official: Commodities and Hard Assets have become the best-performing asset class of 2026. In a year defined by persistent inflation, geopolitical conflict, rising sovereign debt and intensifying supply disruption, capital is rotating aggressively into the one area governments cannot print and central banks cannot manufacture: scarce physical assets.

Venezuela’s 65-billion-barrel Oil deal could reshape America’s inflation fight

The United States (US) has secured unprecedented access to part of Venezuela’s vast Oil reserves. The timing is particularly significant as the war with Iran is disrupting Middle Eastern supplies, keeping energy prices elevated and reviving concerns about inflation.