The short-term price prediction for silver is set at $16.91/toz by the end of 2019, according to the World Bank
the World Bank
As of 2018, the World Bank has a total of 31 projects in 772 locations in Nigeria. This all adds up to $9.21 billion worth of programs in sectors of like social protection, health, agriculture, fishing, forestry, energy, public administration and other areas in need of refinement.
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If inflation continues to rise and reaches double-digit values through 2022 and 2023, the price of $100 an ounce for silver could be possible. Consider that in 2021, we saw inflation rates averaging around 5%, which was the highest rate since 2008.
Using the current silver price of about $25 per ounce, a 10-year bull run could put the price of silver anywhere from $150 to $750 per ounce. The $750 figure would probably mean that we are in a hyperinflationary environment.
"There is going to be huge distortions across all markets — meaning the bond market, the stock market, the metals market, the crypto market," explained Morgan. He believes silver may break through US$30 to trade in the US$33 range in 2022. He also sees potential for silver to reach US$50 in the near future.
In 2022, mine production is expected to increase by a mere 2 percent to 843.2 million ounces, while overall global silver supply is expected to also increase by 3 percent to 1,030.3 billion ounces. The growth in silver mine production is expected to continue over the medium term.
According to the latest long-term forecast, Silver price will hit $20 by the middle of 2022 and then $30 by the end of 2024. Silver will rise to $40 within the year of 2028, $50 in 2030 and $60 in 2033.
Silver is more volatile, cheaper and more tightly linked with the industrial economy. Gold is more expensive and better for diversifying your portfolio overall. Either or both may have a place in your portfolio. Arguably the best use for gold as an investment is to mitigate portfolio risk.
Silver holds its value long term and fares well when interest rates are low — and fixed-income investments aren't earning much. In these ways, silver functions like gold as an investment, serving a similar "safe haven" role.
Keep in mind that we still haven't meaningfully broken the $30/oz barrier during this current cycle that began in 2020. With that in mind, my silver price target for year-end in 2023 is $25 per troy ounce.
Though prices have gone down in these periods for the year, it has also been observed that the lowest price of gold and silver have been higher than the lowest price of gold and silver in the previous year. So, the gold bar price in mid-June 2022 will still be higher than the price of gold in mid-June 2021.
And silver ETFs rose by 150 million ounces to close at a record high of 1.21 billion ounces. In other words, demand for silver's two main functions—industrial and investment—is growing. This means… We should expect higher silver prices in 2022.
That being said, silver is currently considered a very rare and undervalued above-ground precious metal. Although it's running at a supply deficit for the time being, many speculate it's only a matter of time before the price of silver reflects its true value.
Is silver a good investment right now? For those seeking a hedge, absolutely. It's a cheaper alternative to gold, with all the potential of this universally recognized safe haven. Whether used to diversify a portfolio or as a direct hedge against inflation, silver stands as a smart investment in the current climate.
Silver is more volatile. There are lows in January and price dips in June through early July. If your practice is to buy silver at its lowest price, you should buy in June, with the next most favorable months being August and October.
Generally, the best way to invest in silver is through ETFs or ETNs, not mutual funds. Most people who invest in silver want exposure to the price of silver rather than stocks of companies that engage in silver mining and manufacturing.
Silver is a better inflation hedge than gold because of industrial use. This means that in a strong economy, the demand is high, and in a weak economy, the demand is lower. Due to gold's lack of need for industrial use (as compared to silver), it is a weaker inflation hedge compared to silver.
The World Bank's Commodity Markets Outlook in April 2022 saw the silver price averaging $24.2 in 2022. The bank's silver price forecast for 2025 saw the precious metal averaging $22.5 throughout the year, and continuing to fall to an average of $21 in 2024.
Silver has always increased in value during times of war as more investors begin switching to investing in silver. This is because silver provides a great hedge against market volatility and helps them balance out their portfolios.