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Bank of America: silver prices will rise to $25 per ounce in 2023
Bank of America analysts believe that not only gold but silver will rise this year. According to forecasts, the price of the precious metal may increase to the level of $25 per ounce.
Michael Widmer, an analyst at the bank, noted in his report that investors tend to assess the outlook for silver in terms of both macroeconomic and microeconomic factors. At present, monetary policy easing by the U.S. Federal Reserve (Fed) as well as the dollar’s stabilization are favorable macroeconomic factors for silver. Stabilization of industrial demand, as a microeconomic factor, will also support the precious metal prices.
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