Monday, October 2, 2023
HomeUncategorizedSilver Price Analysis: XAG/USD forecast lowered to $20.50 by year-end - Commerzbank

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

Silver has come under pressure in recent months and fell to a two-year low just above $18 in July. Strategists at Commerzbank are downgrading their silver price forecasts.

By the end of 2023, the gold/silver ratio should drop to 76

“We now expect silver to end the year at $20.50 at $24 , at $25 by the end of 2023 (previously $27).

“The gold/silver ratio should fall from the current good 90 to 76 by the end of 2023.

“In addition to rising gold prices, silver should benefit from the politically enforced expansion of photovoltaics, which are used in solar cells.” However, silver is still cheap compared to gold in historical comparisons. ”

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