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20 January 2023 | Other

MKS PAMP Group: silver is 35% probable to rise to $30 in 2023

Silver

Analysts at MKS PAMP Group estimate the probability of silver price movement. The probability of flat movement within the range of $18-28 is estimated at 50%, the probability of growth up to $30 is 35%, the probability of decrease down to $12 is 15%. The average price for the year is estimated at $22.5.

Nicky Shiels thinks that the reasons for a bullish scenario could be:

  • growth in demand for silver in the automobile and electronics industries, as well as the need for its use in renewable energy sources, which is growing;
  • growth in demand in China for all commodities (silver plays a key role in industries such as electronics, medicine, etc.) due to the removal of recurring restrictions;
  • prolonged supply disruptions.
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