Silver should profit from “green” industrial demand – Commerzbank – Crypto News – Crypto News
Connect with us
XAG/USD seems vulnerable below 50 DMA, hangs near 38.2% Fibo. XAG/USD seems vulnerable below 50 DMA, hangs near 38.2% Fibo.

others

Silver should profit from “green” industrial demand – Commerzbank – Crypto News

Published

2 years ago

on

Share:

Silver has underperformed Gold, both during the course of the year so far and during the latest price rally in October. Economists at Commerzbank analyze the precious metal’s outlook.

Silver suffering from weaker physical demand

One factor putting the brakes on Silver is presumably the weaker physical demand than last year. This at least is what the Silver Institute, together with Metals Focus, had predicted for this year back in April. 

Having said that, industrial demand should continue to grow to reach a record level. Next week, the institute present its interim report for the Silver market in 2023. If this confirms the forecast of a declining supply deficit in response to weaker demand, we do not expect any significant reaction from the price. 

We certainly anticipate higher prices in the medium term, however, given that Silver should profit from ‘green’ industrial demand.

 

Related Topics:
Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Trending