Even though the Federal Reserve will continue to tighten policy in 2023, Gold posted a very respectable performance. TD Securities economists analyze the outlook for the yellow metal.
Good performance of Silver is expected in its trend towards $26
We believe the combination of an expected dovish Fed pivot by gold traders in late 2023/early 2024 and strong official sector buying should lift prices above $2,100 on a sustained basis in 2024.
As the precious metals environment becomes favorable, Silver is also expected to do well in its trend towards $26. The white metal will benefit from lower transportation costs, improving industrial demand later in 2024 and primary market deficits.
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
