There are good prospects for precious metals in 2023

The Morgan Report publisher David Morgan gave his forecasts for the upcoming year.

As stated by the financial expert, he doesn’t consider investing in stocks or bonds in 2023. He also doesn’t think that real estate and crypto are appealing for it. Instead of all those variants, he thinks that precious metals are the type of assets which will be perspective.

According to Morgan’s point of view, 2023 might become a good year for silver. As it was stated by the expert, the precious metal is likely to rise above $30 per ounce. Although there might be some hurdles along the way, he noted, so it’s necessary to remain patient and monitor the situation. Morgan recalled the last time silver had approached the $30 level, when Rostin Behnam from the Commodity Futures Trading Commission called for tamping down the silver market. Morgan expressed his dissatisfaction with the mentioned turn of the events.

The financial expert also spoke about central banks that are now holding the largest amounts of gold in their vaults since 1975. Morgan suggests that more gold would be invested into  "smart money" next year. At the same time, he doesn’t expect to see much demand from private clients. Although, in case a black swan event takes place, there’s a possibility for the gold market to go into rapid growth, as said by Morgan.