- Analytics
- News and Tools
- Market News
- Silver: There are fundamental factors to support an upside to prices – ANZ
Silver: There are fundamental factors to support an upside to prices – ANZ
Silver’s price plunged amid renewed downward pressure on Gold. Economists at ANZ Bank analyze XAG/USD outlook.
A disconnect between price and fundamentals
We believe Silver’s supportive fundamentals should come into play once manufacturing activity recovers in China and other developed markets. Investment demand has been lacklustre since 2022 despite strong fundamentals. This leaves ample scope for investment demand to pick up at current price level.
We believe there are fundamental factors to support an upside to prices: Industrial offtake is at a record high to 580moz in 2023, up 4% YoY. There are encouraging developments on the trade front via India’s Comprehensive Economic Partnership Agreement (CEPA) with the UAE. There are some supply bottlenecks.
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
