Among the analysts consulted, the lowest average projected price for silver in 2021 was $21.50 per troy ounce, while the highest average estimate stood at $34.22. All of this creates an average of $28.50, 38% higher than last year, meaning that silver is trading below the consensus right now.
What will silver prices do in 2021?
Characteristic Price in U.S. dollars per troy ounce
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22.25
21.8
22.17
22.22
Is 2021 a good time to buy silver?
Compared to other commodities that hit new highs in 2021, silver is still undervalued. At the time of writing, the silver price is roughly half of its all-time high from 2011. This makes silver perhaps the most undervalued asset in the world even when other instruments like bonds and equities are included.
Will silver hit $100 an ounce?
The fastest way that silver can get to $100 an ounce is if inflation hits double-digit levels in 2022 and 2023. In 2021, the year-over-year inflation rate is about 5%. This is the highest rate of inflation since 2008.
Will the price of silver continue to rise?
“Our projection sees the average silver price rise by 2 percent to US$25.75 in 2022,” the metals consultancy firm's Precious Metals Investment Focus report states. The market overview continues, “Much of this increase is due to positive spillovers from an improving gold price in early 2022.
What will silver be worth in 2030?
The short-term price prediction for silver is set at $16.91/toz by the end of 2019, according to the World Bank. The long-term prediction to 2030 forecasts a significant drop in the commodity's price, reaching $13.42/toz by then.
What will silver be worth in 10 years?
World Bank estimates show the price of silver stable at around $18/oz over the next 10 years. Futures contracts with delivery in the next 5 years put the price of silver at around $26/oz.
Is silver going up 2021?
The table below shows the silver price prediction from various commodity and bank analysts for 2021. Most industry analysts predict the silver price will move higher this year, though five project it will remain below $30. The average of all these analysts is in the low $32 range.
What will the price of silver be in 2021?
Characteristic Price in U.S. dollars per troy ounce
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22.66
22.25
21.8
22.17
Is silver going to skyrocket?
Automotive industry demand for silver is rising and is estimated to increase from 61moz to 88moz by 2025, according to Metal Focus. We expect silver to outperform gold in 2022, with prices finding a floor near USD20. 8/oz.”
What will happen to silver in 2021?
Analysts at ABN Amro are more bearish on the outlook for silver in the future, predicting that price could decline from an average of $23.50 per ounce in 2021 to $22 in 2022 and $20 in 2023.