Silver to perform well as investors look for cheaper alternatives to Gold – ANZ

FXStreet Insights Team FXStreet

Silver prices have risen by 27% since mid-October 2022. Economists at ANZ Bank expect XAG/USD to perform well in 2023.

Silver should not be ignored

“We expect prices to correct in the short-term, but fundamentals are likely to be supportive over the next 12 months.”

“The supply-demand balance looks strong. The growing adoption of green energy sources continues to favour fabrication demand for Silver. Silver stocks are falling at exchanges, suggesting a tighter market. Bar and coin demand continued to be high, and the premium for coins remains elevated.”

“We expect Silver to perform well, in tandem with Gold, as investors look for cheaper alternatives to the yellow metal.”

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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.

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