Silver prices are sustaining above $20 despite lack of support from investment demand. Strategists at ANZ Bank analyze XAG/USD outlook.
Investment in Silver to turn positive going into next year
Silver’s fundamentals look supportive, as the market is in structural deficit. However, investors are not yet turning to Silver.
We expect investment in Silver to turn positive going into next year when the macro backdrop becomes more supportive as the Fed draws to the end of its hiking cycle.
However, slow economic growth next year is likely to have limited impact on industrial demand for Silver from energy transition projects.
Source: https://www.fxstreet.com/news/silver-is-yet-to-win-investor-attention-anz-202311161509