Silver has come under great pressure lately and fell to a two-year low of just over $18 in July. Strategists at Commerzbank are revising their price forecast for silver downwards.
Gold/silver ratio should fall to 76 by end-2023
We have now expect a silver price of $20.50 by the end of the entire year (previously $24) and a cost of $25 by the end of 2023 (previously $27).
The gold/silver ratio should fall from the existing level of an excellent 90 to 76 by the finish of 2023.
As well as the rising gold price, silver should take advantage of the politically forced expansion of photovoltaics, where it really is used in solar panels. In a historical comparison, however, silver still remains cheap in comparison to gold.
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