Thursday , 22 February 2024

73% Of Analysts Have Seen Their 2023 Targets For Silver Surpassed

Silver, Bars, 5000 Grams, Real Value

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We’ve put together a list of all 26 analysts who have provided specific forecasts for the price of silver by the end of 2023. Surprisingly, compared to the 7 analysts who forecast specific targets for gold by the end of 2023 (see here), the vast majority (73%) of the silver analysts have already seen their forecasts exceeded, with the distinct possibility that that percentage could rise to 92% by year end.

An original article by Lorimer Wilson, Managing Editor of, Your KEY To Making Money!

Below are the details:

  1. Everett Millman: $25 
    • My silver price target for year-end in 2023 is $25 per troy ounce and…my price target for silver by 2030 is $35 per troy ounce.” Source
  2. Ross Norman: $25.18
    • “With total supply relatively static at around 1 billion ounces, but with demand rising 16% year-on-year to an all-time high, coupled with declining inventory stocks, we see silver ranging from $23.41 to $30.15 in 2023 and averaging $25.18 on the year. Source
  3. Wallet Investor: $25.46
    • This AI driven website forecasts that silver will end 2023 at $25.46/ozt., $29.25 in 2025 and $32.86 in 2027. Source
  4. Peter Fertig: $26.60 
    • Fertig of QCR Quantitative Commodity Research in Germany forecasts $26.60 in 2023 based mostly on a steep retreat in the US Dollar’s value. Source
  5. Bruce Ikemizu: $27
    • Ikemizu, Chief Director of the Japan Bullion Market Association, forecasts $27 per troy ounce in 2023 “supported by the prospect of supply shortage and renewed interest from investors with prices further boosted by the move towards a carbon-free society helping silver demand for solar panels and other applications such as various parts in electric vehicles.” Source
  6. StoneX Financial Ltd.: $27.25
    • According to the StoneX Metals and Energy Markets Annual Outlook report silver should reach $27.25 by the end of 2023. Source
  7. Gov Capital: $27.90 
    •  The algorithm-based forecasting service predicts that silver will close out 2023 at $27.90, rising to an average of $57.53 by the end of December 2025, $80.47 by the end of 2026, and $97.65 by December 2027. Source
  8. Manoj Jain: $28 to $30 
    • Jain, Director of Prithvi Finmart, believes “silver could also test $28-30 per troy ounce levels in 2023.” Source 
  9. MKS Pamp: $28 to $30 
    • Nicky Shiels, head of metals strategy at MKS Pamp, has a silver forecast of $28/ozt. to $30 per troy ounce for 2023 because silver is in a shortage. Source
  10. $29.01
    • This algorithm-based forecasting service forecasts a price of $29.01/ozt. for silver at the end of 2023. Source
  11. CNBC: $30 
    • “Silver could hit a nine-year high of $30 per ounce in 2023 as a result of insufficient supplies of silver as well as its tendency to be a better performer than gold in periods of high inflation.” Source
  12. Wheaton Precious Metals: $30
    • Randy Smallwood, CEO of Wheaton Precious Metals, believes silver will “touch” $30 a troy ounce but will remain comfortably above $20 in 2023. Source
  13. Keith Neumeyer: $30 
    • Neumeyer, CEO of First Majestic Silver, predicts silver could reach $30/ozt. in 2023 and $125 per troy ounce in the current market cycle. Source
  14. Degussa: $30 
    • Germany’s largest and oldest precious metals company has a silver price forecast of $30/ozt. ounce in 2023 based on the increased demand for silver by renewable energy technologies and that a rising silver price should attract additional investment demand, which could help drive silver prices significantly higher this year. Source
  15. Crescat Capital: $30 to $35
    • Tavi Costa, Portfolio Manager and partner at the firm, thinks, “Silver could easily be trading at $30 to $35 an ounce” in 2023. Source
  16. Jeff Clark: $30 to $50 
    • The odds favor a higher silver price in 2023 ranging from a minimum of high of $30, a potential high of $35 with no crisis and a potential high of $50/ozt. should we be in a crisis. Source
  17. Gary Savage: $30 to $50 
    • Savage feels that the silver market is gearing up for a bullish run to $30 and maybe $50 an ounce in 2023 as a result of the trillions of dollars that have been created as a reason the price of silver can no longer be suppressed and that silver prices “bottomed out” prior to gold meaning it’s got more room to run. Source
  18. Coin Price Forecast: $30.12
    • The AI-driven forecasting website predicts silver prices will end the year at $30.12, $40.77 by the end of 2024, and $50.64 by the end of 2025. The forecast is updated on daily basis. The current price is updated every 15 minutes. Source
  19.; $31.95
    • ” A favorable market condition…should see silver reach $31.95 by the end of 2023…and should easily rise to $40.18 per troy ounce in 2024 and possibly reach as high as $81 per troy ounce in 2030.  Source 
  20. Ajay Kedia: $32 
    • Kedia, Managing Director of Kedia Commtrade and Research, sees silver “crossing $32 as industrial demand seems to be improving against the supply with dwelling inventories.” Source
  21. The California Gold & Silver Exchange: $32.65
    • The silver price prediction for 2023 is expected to continue to increase reaching $32.65 by the end of 2023 because the current supply of silver is insufficient. Source
  22. Taki Tsaklanos: $34.70 
    • Tsaklanos forecasts that silver prices will rise to $34.70 per troy ounce in 2023, with $48 silver expected shortly thereafter supported by the gold price (correlated to silver) and inflation expectations. Source
  23. Phillip Streible: $35 
    • “I think $35 silver is  realistic given the fact that the dynamics of the economy are going to slow down.” Source
  24. Lite Finance: $36.42 
    • Jana Kane, editor-in-chief, feels the average price of silver will be in the $37.32 range for 2023 based on safe-haven demand in the face of rising inflation and silver’s use as an industrial metal. Source
  25. Avi Gilburt: $40 
    • “Silver has lagged in the precious metals space for the last two years and has a lot of catching up to do….Its  prices could easily double in 2023 to $40/ozt…” Source
  26. Robert Kiyosaki: $75 
    • “I predict silver going to $75 and gold to $3,800 in 2023.” Source

The 26 analysts above forecast, on average, that silver would reach $31.82 per troy ounce by the end of 2023. Silver is currently at $32.41/ozt. today, December 14th.