Strategists at ANZ Bank analyze Silver (XAG/USD) outlook.
Investment demand to reverse
Silver is facing a double whammy: expectations of a rise in US interest rates curbing its investment appeal and a weaker Chinese economy weighing on industrial demand. These two drags are driving a recent liquidation of Silver investments.
We expect investment demand to reverse, consistent with fundamentals, and for prices to rebound towards $25 by the end of this year.
See – Gold Price Forecast: XAU/USD to trade near $2,000 by year-end – ANZ
Source: https://www.fxstreet.com/news/silver-price-analysis-xag-usd-to-rebound-towards-25-by-year-end-anz-202309291443