Commerzbank: the value of silver will reach $25 by the end of next year

Economists at Commerzbank expect silver to cost $25 by the end of 2023. Next year is expected to be favorable for its market conditions.

According to experts, industrial demand, demand for coins, bullion, jewelry and items made of silver will reach record levels. A higher gold price forecast also contributes to the rise in the price of silver.

Economists also believe that the elimination of the Fed's interest rate hike and speculation about interest rate cuts following it will also boost demand and prices for silver. Silver is widely used in industry. The expected economic recovery from the end of the recession should add value to the precious metal.

Demand for silver should receive an additional impulse after the easing of restrictions on coronavirus in China, as the country is the largest consumer of silver.

Assumptions of economists about the price level stopped at $23 in the middle of the year, and by the end of 2023 the price will rise to $25.