Silver to perform well as investors look for cheaper alternatives to Gold – ANZ
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Silver prices have risen by 27% since mid-October 2022. Economists at ANZ Bank expect XAG/USD to perform well in 2023.
“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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