Is silver a good investment in 2023?

In addition, if the global economy falls into recession this year, industrial demand for silver could also be affected. Analysts said that growing fears of the recession will continue to affect the Live Silver Price for the next two years. Thanks to my extensive experience in the bullion industry, I have witnessed bearish and bull markets for silver. However, this type of fall in silver is most likely to rob the Federal Reserve of a buzzword regarding the inflation transition. Given these parameters, in my opinion, silver is about to enter another bull market phase of this current market cycle.

In fact, during periods of rapid economic expansion, there is usually a negative correlation between the price of silver and the USD. As seen in the longer period of time, the chart of the price of silver over 50 years, a giant cup and handle is being manufactured. When the demand for silver remains the same and yet there is more money in the economy looking for the same amount of resources, the nominal price of those resources increases. It is also in line with data from the Silver Institute, which predicts that silver will continue to have a global supply deficit in the coming years.

The dollar and, consequently, the sharp fall in inflation expectations broke the centuries-old fall in silver that began in the first quarter. Therefore, one of the driving forces behind the increase in silver prices over the next five years is the numerous applications of white metal in green technologies and the green economy. Even though I'm a silver bull, I must warn you that nothing you can own has a price that goes up in a straight line all the time. The same is largely the case with gold prices, but silver is subject to considerably greater volatility than gold.

In addition to the established industrial uses of silver in the field of electronics and medicine, silver will also play an important role in the industries of the future. However, in the long term, the bank remains optimistic that industrial demand and the growing demand for solar energy will provide long-term support to silver.