03 February 2023

Silver Price Prediction (2023): Experts Weigh In


Silver is on everyone’s mind this year, especially when you consider record inflation! Will Silver break all previous records? Prepare for an exciting ride as we delve into the highly anticipated Silver Price Prediction for 2023. 

But first, let’s quickly gloss over Silver’s Price history during the past decade. 

A Look at Silver’s Price History

Despite a rise in silver prices over the past five years, USD silver prices have not yet reached $30 per troy ounce. If we rewind back a decade, the 10-year silver price chart reveals the magnitude of silver’s rally to all-time highs above $40 per troy ounce in 2011.

Silver markets have risen from the lows recorded at the pandemic’s start. This is due to the investors buying precious physical metals as safe-haven assets. 

In August 2020, the silver price reached a $28 high, and it eventually ended the year around the $22 mark. Finally, in February 2021, the silver price climbed to an eight-year high of $30 per ounce. 

This happened as the market potential attracted many retail investors.

Top predictions for the silver price in 2023

The silver price predictions for this year are diverse due to conflicting opinions. However, here are some of the top forecasts:

Avi Gilburt, Elliot Wave Trader – $50

Avi Gilbert is a market analyst and founder of ElliotWave The platform is a live trading room for market analysts, and it also has a community of money managers and professional traders. 

For Avi, silver is expected to be $50 in the long term, and he believes this price could double this year and the first half of 2024.

David Morgan, The Morgan Report – $30 -$33

David Morgan is a top analyst in the precious metals industry. He also consults hedge funds, mining companies, and bullion dealers.

For his reason, David Morgan mentions that silver tends to outperform 3:1 in bullish markets. He adds that once it passes $30-$50, it would head to $70-$100.

Investing Haven – $34.70

Investing Haven is a top-notch crypto service that provides updates on blockchain stocks and cryptocurrencies. It believes silver prices could rise due to a top in the U.S. dollar. Inflation expectations and the silver CoT report back the platform’s speculation. 

They believe that once the Silver price starts hovering around the $36 mark, it’ll be a matter of time before it hits its highest ever price point. 

Commerzbank – $25

The Commerzbank finances 30% of Germany’s foreign trade. It also has one of the densest branch networks amongst the country’s private banks.

According to Commerzbank, silver should benefit from the Fed’s interest rate hikes. However, it could also rise due to speculations of interest rate cuts that could happen after. Other factors are increased industrial use and easing corona restrictions in China.

Want to make your own silver prediction? Watch out for these three metrics. 

Many things can affect the silver price. This includes the economy, inflation expectations, and the U.S. dollar. But these are the most significant factors that normally help experts make their predictions. 

     1. Investment demand

While silver demand fluctuates yearly, it doesn’t change dramatically. 

Moreover, Increased industrial demand could support the market but any big spike needs to come from a major development on the world stage. 

That said, ETF holdings in silver are expected to go up, and investor demand for physical silver is also slated to increase, which can drive prices upward.

      2. Gold/Silver ratio

The gold/silver ratio is the price of gold divided by the price of silver. Both assets are seen as monetary metals, so they move together, giving investors an idea of silver prices depending on the ratio’s direction.

The higher the ratio, the more undervalued silver is compared to gold. Conversely, silver becomes more overvalued if the balance is lower than gold.

     3. Silver trails gold

One issue that silver investors have is that the commodity’s price can be dormant, which can happen even when gold is trending higher. But, the silver prices usually pass the gold price in bull runs. 

Most analysts have pointed out another factor that could back rising silver prices. 

During bullish markets, 90% of the increase happens in the final 10% trading time, showing silver’s nature to trail gold, eventually catching up and passing it. So if Gold is slated to rise, so is Silver in all likelihood. 

Make your Silver Investments today

The top predictions for Silver in 2023 point to a positive rally for Silver. 2023 could be a bullish year for the market and with inflation on the rise, many people will most likely resort to commodity investments. 

This could mean a rise in Silver prices could just be around the corner and if you invest now, you can potentially double or even triple your investments. However, we advise you to do your own research before making any investment decisions.

Once you’re ready to invest, make a deposit of your funds in your ISA Bullion personal account and start trading on your physical Silver & Gold holdings from anywhere in the world instantly!

Getting started is easy → 

We ensure the safe-keeping of your physical assets by storing it in our state-of-the-art vaults. We can also ship your holdings upon special request. 

Sign up today and start making lucrative gold and silver trades on the go!

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