Silver price will increase twice by the end of 2023, says ElliottWaveTrader founder

The majority of analysts, in general, are optimistic about the silver price. However, some suppose that it will increase twice by the end of the current year.

According to head of ElliottWaveTrader Avi Gilburt, silver will face a period of sustained growth. As a result, the quotations will hit the record of almost $50 per ounce. Gilburt thinks that first, the cost of an ounce of silver will decrease to $21-22, and after this, the prices will start to rise steadily. In the future, the price for an ounce of the precious metal will reach $50, but it will require a lot of time. The quotations may grow twice in 2023 and also in the first half of 2024.