Silver Forecast & Price Predictions October 2023, 2024 And Beyond: Is The Worst Over?
The comments below are an edited and abridged synopsis of an article by Cristian Cochintu
Silver and precious metals in general have been weighed by elevated real yields amid the view that interest rates will remain higher for longer given stubbornly high inflation. Rising nominal interest rates coupled with easing price pressures/inflation expectations have pushed up real rates, raising the opportunity cost of holding the zero-yielding yellow metal.
Potential safe-haven bids and short-covering on escalating tensions in the Middle East boosted silver in October. Dovish comments by Fed officials suggesting that the US central bank has pivoted on rates is also supportive. While geopolitical uncertainty could keep precious metals well bid, unless the broader trajectory of US Treasury yields/real yields reverse, the path of least resistance for silver remains sideways to down.
Up for discussion: The silver forecast – fundamental outlook 2023 (industrial demand, investment demand); silver price forecast – technical outlook November 2023; silver forecast and price predictions; ways to forecast the price of silver (investment demand, gold/silver ratio, inflation expectations, EUR/USD, futures market); silver price history; and the history of silver.