Ideas Markets Events Research
Close
search
Ideas
Markets
Events
Research
Nothing found
Select a section for which the search will be carried out
23 January 2023 | Other

ANZ Bank: Silver has a positive outlook for 2023 as a cheaper alternative to gold

Silver

Australia’s ANZ Bank gives silver a positive outlook for 2023. Prices for the precious metal have increased by more than 30% since the middle of last October. 

Economists at the bank expect that despite some price correction in the near term, silver is likely to have further support of fundamentals. 

The precious metal’s supply-demand balance seems to be quite sustainable. The rise in demand is mostly driven by adoption of green energy sources. Demand for bars and coins remains high, as well as the premium for coins.

Investors are in search of cheaper alternatives to gold. ANZ Bank analysts believe that silver might be great for that role. According to the bank’s forecasts, the two precious metals will perform well in tandem.

Company MarketCheese

Recommended

United States. CFTC Silver speculative net positions. The value of the indicator has increased from 21.9K to 24.7K
27 March
United States. CFTC Silver speculative net positions. The value of the indicator has decreased from 24.6K to 21.9K
20 March
United States. Interest Rate Projection - Current. The value of the indicator has decreased from 3.6% to 3.4%
18 March
United States. Interest Rate Projection - 1st Yr. The value of the indicator has decreased from 3.4% to 3.1%
18 March
United States. Interest Rate Projection - 2nd Yr. The value of the indicator remained at the same level of 3.1%
18 March
Top news
European Union. Manufacturing PMI. The value of the indicator has increased from 50.8 to 51.4
24 March
European Union. Trade Balance. The value of the indicator has decreased from 11.2B to -1.9B
20 March
European Union. Deposit Facility Rate. The value of the indicator remained at the same level of 2%
19 March
European Union. ECB Interest Rate Decision. The value of the indicator remained at the same level of 2.15%
19 March
United Kingdom. BoE Interest Rate Decision. The value of the indicator remained at the same level of 3.75%
19 March
All news

Forecasts

AUDCAD buy
Period: 30.04.2026 Expectation: 1100 pips
Buying AUDCAD from support zone
FA Other Indicators and reports Hot news Indicators
27 March 2026 31
Reed_Marcus
Brent sell
Period: 03.04.2026 Expectation: 920 pips
Brent crude is poised to dip further on rising selling pressure above $106.00
TA Other Technical analysis FA Other Indicators Fundamental analysis
27 March 2026 52
Lyra_Moonwell1
USDCAD buy
Period: 03.04.2026 Expectation: 950 pips
USDCAD gains ground on risk aversion and soft Canadian data
Technical analysis Indicators and reports Hot news Indicators Fundamental analysis
27 March 2026 29
Emily_Foster
GBPUSD sell
Period: 31.05.2026 Expectation: 3500 pips
GBPUSD selloff takes hold as UK inflation expectations soar
FA Other Indicators and reports Chart analysis Hot news
27 March 2026 19
Sinclair_John
GBPUSD sell
Period: 30.04.2026 Expectation: 1400 pips
Selling GBPUSD down to 1.3200
TA Other FA Other
27 March 2026 19
Bruce_Powers
S&P 500 buy
Period: 30.04.2026 Expectation: 1300 pips
Investing in SPX from $6,640
TA Other FA Other
27 March 2026 19
Bruce_Powers
Go to forecasts