The silver market has been seeing a great deal of buzz in recent years due to its attractive properties as an investment asset. While prices have been fluctuating, some experts are predicting that the silver price could reach US$100 per ounce in the year 2023.
Global demand for silver is on the rise due to its use in electronics, solar panels, medical applications, and industrial uses. With the demand expected to remain strong across the different applications, silver prices are projected to continue to increase.
In addition to global demand, silver prices could be pushed higher if monetary policy remains loose in the US. Loose policies tend to push investors into silver as a safe haven asset. This could help drive prices higher as investors flock to the asset.
Finally, demand for silver could be further bolstered by the growing enthusiasm for green investments. Silver is a much needed component in the production of green energy technologies, such as solar panels. If demand for these technologies remains strong, silver prices could rise in response.
All of these factors could cause silver prices to reach US$100 per ounce in the year 2023. However, there are no guarantees that these predictions will come to fruition. It is important for investors to do their own research and make their own investment decisions.