“Will Silver Reach US$100/oz by 2023? Here’s What the Experts Say

Recently, speculation has abounded that silver’s price could skyrocket to as high as $100 per ounce. Such a high price would be unprecedented, as silver has only briefly traded over $50 per ounce for a short period during its history. But could such a feat really be achieved? The experts are divided. Some point to factors such as increased demand from industrial sectors and potential new reserving of silver by countries as reasons why the price might reach the lofty levels predicted. Others point to historical trends that suggest that despite a surge in demand, silver’s price is still ultimately tied to the price of gold, and therefore may not reach such high levels as predicted. Nobody knows for sure what will happen over the next few years, but what we can be sure of is that silver is still one of the world’s most important commodities. Nearly every industrial application imaginable, from making circuit boards to jewelry-making, depends on it. Furthermore, silver is still an excellent hedge against future economic and geopolitical turmoil; if the dollar, or any other currency, devalues, silver can serve as a safe haven for investors. Due to all of these factors, it is not entirely impossible that silver’s price could indeed soar to $100 per ounce in the coming years. In fact, some analysts predict that this could even happen as early as 2023. Anything is possible, and investors must be well-informed to make the right decisions with regards to silver. With its unique properties, silver will surely remain a valuable asset for some time to come.