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| Above, a proof 2023 American Silver Eagle. Photo by Armand Vaquer. |
It is a bit hard to believe that silver can reach $30/toz during the next six to twelve months since it is now hovering around $23/toz and sometimes dipping below that. But that's what Citigroup's analysts are saying.
According to Bitcoin.com:
On Thursday, May 25, 2023, the price of silver per ounce lingers just above the $23 mark after experiencing nearly a 4% decline over the past week. Nevertheless, half-year data reveals that silver has risen 6% against the U.S. dollar. Despite recent setbacks in precious metal valuations, market experts forecast strong performances from silver and gold in 2023 and beyond. A Citigroup report highlights that their analysts project silver to climb to $30 within the coming 6-12 months.
“We think recent price weakness offers a strong dip-buying opportunity, reiterating our call for $30/oz silver over the next 6-12 months as U.S. growth rolls over, even if emerging markets growth stagnates,” stated Citi’s market strategists.
I agree that the current dip in prices affords an opportunity to buy more silver. If after buying silver now and the prices does go to $30/toz, then profit is obvious.
To read more, go here.
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