“Silver at US$100 an Ounce: Could it Happen by 2023?

The silver market is starting to look a lot more attractive. Despite the economic uncertainty caused by the coronavirus pandemic, the price of silver has risen steadily over the past few years and many investors are wondering: Could the silver price really hit US$100 per ounce by 2023? The answer to this question depends on a wide range of factors, including the state of the global economy, the growth of the silver market, and the availability of resources. The pandemic has had a huge impact on the global economy, but many economists are optimistic that the economic recovery could help drive silver prices higher. The US dollar, which is the world’s primary currency, has weakened over the past year, providing a boost to the price of silver and other commodities. The silver market has also seen an increase in demand for silver coins and bars, particularly among investors looking to diversify their portfolios. This increased demand is expected to remain for the foreseeable future, and could help propel the silver price higher. Moreover, the availability of resources is also an important factor in the silver market. Global silver production fell by 5.1% in 2020, and continued to decline in 2021. This shortage could lead to higher silver prices, depending on the strength of demand. All these factors could potentially lead to the price of silver reaching US$100 per ounce in 2023. However, it should be noted that the silver market is unpredictable, and the current trajectory could change at any time. Investors should, therefore, approach this market with caution and do their own research before investing in silver. Overall, the silver market is certainly an attractive option for investors looking to diversify their portfolios, and the price could hit US$100 per ounce in 2023. However, investors should take into account all of the risks before investing, and do their due diligence to ensure they make informed decisions.