On top of that, the precious metal has been benefiting from safe-haven demand stemming from persistent geopolitical tensions and lingering concerns about slowing global growth. The US Central Bank has raised its benchmark policy rate by half a percentage point for the first time since in early May while signaling it intended to increase it by the same amount at the next two meetings.
Historically, Silver reached an all time high of Silver - data, forecasts, historical chart - was last updated on May of Silver is expected to trade at Looking forward, we estimate it to trade at Trading Economics members can view, download and compare data from nearly countries, including more than 20 million economic indicators, exchange rates, government bond yields, stock indexes and commodity prices.
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Please Paste this Code in your Website. Silver futures and options contracts are used by mining companies, fabricators of finished products, and users of silver-content industrial materials to manage their price risk. As a precious metal, silver also plays a role in investment portfolios. The largest industrial users of silver are the photographic, jewelry, and electronic industries.
We have a plan for your needs. Standard users can export data in a easy to use web interface or using an excel add-in. Edited by Valerie Medleva. Precious metals markets have come under pressure from strength in the US dollar, with the Dollar Index DXY climbing to a year high this month. And silver has underperformed gold as investment interest has waned.
What are the factors weighing on the silver market and where should investors expect the market to move next? There were several trends driving up silver demand, including strong consumer electronics demand amid the transition to remote work, investment in 5G infrastructure and rising silver use in the green economy, especially in solar photovoltaic PV panels. The market saw its first deficit since , with a shortage of High inflation rates around the world were expected to support investment demand in , as precious metals typically retain their value at times when rising prices erode the purchasing power of fiat currencies.
Higher interest rates tend to be bearish for precious metals, as investors opt for interest-bearing savings accounts and other assets that generate guaranteed returns. The DXY reached What is the potential for the price of silver in the future? Below, we look at some of the latest analyst projections. The cross over and close above the day moving average is an indication the intermediate-term trend has turned positive.
The next upside objective is The next area of resistance is around Scary silver chart amidst major disinflationary macro move. A dip below opens up Pre pandemic levels. Scary Silver chart amidst major disinflationary macro move pic. But the rise in silver demand from the solar PV sector could receive a boost over the coming years that could support the silver value in the future.
The European Commission president announced a mandate last week for rooftop solar panels on public and commercial buildings to be installed in the next five years. Demand for silver in the manufacture of electric vehicles is also set to rise to 70 million ounces in , up from roughly 45 million ounces in , according to the Silver Institute. As such, analysts can and do get their predictions wrong. Whether silver is a suitable investment for you depends on your risk tolerance, outlook for the market and whether you expect it to rebound or fall further, among other factors.
We recommend that you always do your own research, and consider the latest silver price news, market trends, technical and fundamental analysis, and expert opinion before making any investment decision. Remember that past performance is no guarantee of future returns. And never invest money that you cannot afford to lose. At the time of writing, analysts were cautious on the outlook for silver prices in , as the price could come under pressure in the second half of as central banks such as the US Federal Reserve raise interest rates.
Keep in mind that analysts can and do get their predictions wrong. You should do your own research to make informed trading decisions. Past performance is no guarantee of future returns. Silver is often viewed as a safe-haven asset for investors during times of economic uncertainty. The market tends to be driven by monetary policy, geopolitical concerns, the value of the US dollar, physical demand and mining production, among other factors.
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