Money Control Place
  • Politics
  • Business
  • Stocks
  • Investing
  • Politics
  • Business
  • Stocks
  • Investing

Money Control Place

Investing

Silver Price Update: Q2 2023 in Review

by July 18, 2023
July 18, 2023
Silver Price Update: Q2 2023 in Review

True to its volatile nature, silver has seen price swings in 2023 as it responds to various factors.

Although it’s facing pressure from interest rate hikes, strong industrial demand is seen putting the market in deficit this year.

How did the silver price perform in Q2?

“What we’re hearing and what we’re seeing are these sharp swings in prices,” DiRienzo said. “They really do reflect the dramatic changes in investor expectations about US monetary policy.”

The expert charted some of the price moves seen this year, saying silver first dipped below US$20 per ounce in March, its lowest point of the year so far. Since then, the precious metal has recovered, breaking through US$26 in April and May.

Silver price chart, January 1, 2023, to July 17, 2023.

Chart via Trading Economics.

Entering the summer, ‘renewed selling pressure’ sent silver below US$23, although by mid-July it was near US$25.

While the Fed took a break from interest rate hikes at its meeting in June, Chair Jerome Powell has emphasized that more increases are likely in 2023. Many market participants are anticipating two more boosts of 25 basis points each.

“It’s created heightened volatility in all financial markets, including precious metals,” DiRienzo said. “A lot of pain out there.”

Silver deficit of 142.1 million ounces expected in 2023

Looking further at silver market dynamics, DiRienzo said 2023 is set to be a record year for industrial demand.

Silver has benefited from the uptake of solar panel technology, investment in renewable energies, the rise of electric vehicles and ongoing 5G cellular service upgrades around the world, the expert said.

The white metal is benefiting in particular from demand from the solar energy industry.

He added that silver also plays a key role in other major energy segments like wind and nuclear.

Overall the Silver Institute anticipates a deficit of 142.1 million ounces in 2023.

Investor takeaway

Silver’s characteristic price volatility has been at play in 2023, but experts remain optimistic about its future.

It’s also no secret that gold tends to move before silver, meaning silver may not take off before gold sees more price momentum. Although it’s still historically high, the yellow metal has pulled back from the heights it saw earlier this year.

When silver does eventually move, it tends to outperform its sister metal gold.

‘It’s almost violent sometimes in how much it rises or falls, so if you have a rise in gold, silver’s going to outperform it. We’ve seen this repeatedly throughout history,’ noted Jeff Clark of TheGoldAdvisor.com. ‘So if gold does rise, silver is going to follow it.’

Securities Disclosure: I, Bryan Mc Govern, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com
0
FacebookTwitterGoogle +Pinterest
previous post
E-Tech Resources Inc. Announces CEO Appointment
next post
Fauci still getting US Marshal security detail on taxpayers’ dime, despite retirement, documents show

Related Posts

Updated Announcement -Metallurgical Test Holes

July 16, 2025

Chris Blasi: Gold’s Price Move is Real, Long-awaited...

March 29, 2024

Golconda Gold Ltd. Releases Q3 2025 Production Update

October 8, 2025

Metallurgical Drilling Confirms Historic Grades at the Byro...

February 25, 2025

SCRi Closes First Tranche of its Third Producing...

February 6, 2025

Guide to Uranium Mining in Canada

August 21, 2025

5 Genetic Testing Stocks (Updated 2023)

September 13, 2023

Trudeau Earmarks C$2.4 Billion for Canadian AI Innovation...

April 10, 2024

Michael Campbell: Gold, Uranium, Oil/Gas — Bullish as...

February 3, 2025

Nuvau Minerals Inc. to Participate in BMO and...

February 22, 2025

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Latest

    • S&P 500 Breaking Out Again: What This Means for Your Portfolio

    • Critical Mineral Antimony Stocks – Reshaping the Future of Defense

    • Cardiol Therapeutics Completes US$11.4 Million Financing and Extends Cash Runway into Q3 2027

    • Cartier Cuts 11.0 g/t Au over 9.0 m including 30.2 g/t Au over 2.5 at Contact ; Continues to Expand High-Grade Gold North Contact Zone near Surface

    • United States Antimony Makes Takeover Bid for Larvotto Resources

    • Customers sue sneaker company On over shoes that cause ‘noisy and embarrassing squeak’

    Categories

    • Business (1,401)
    • Investing (3,052)
    • Politics (3,699)
    • Stocks (1,826)
    • Uncategorized (20)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: MoneyControlPlace.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 moneycontrolplace.com | All Rights Reserved