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22 Dec 2023

Silver Price Anlaysis: XAG/USD to hit $30 by end-2024 – Commerzbank

After some ups and downs, the price of Silver is trading at around $24, the same level as at the start of the year. Economists at Commerzbank analyze the precious metal’s outlook.

Silver should benefit from "green" industrial demand

In its latest publication, the Silver Institute revised industrial demand for this year and previous years significantly upwards. Metals Focus also assumes that the silver market will remain in deficit for the foreseeable future. The Silver price has hardly benefited from this so far, which can be explained by general economic concerns, higher interest rates and weaker investment demand, including considerable ETF outflows. Over next year, these adverse factors are likely to become less significant and turn into the opposite.

We remain convinced that the Silver price has upside potential and should also make up ground versus Gold. We are forecasting a price increase to $30 by the end of 2024, which would bring the Gold/Silver ratio down to 72.

 

Dec 22, 2023

USD/MXN edges lower near 17.01 on dovish Fed outlook, US Data awaited

USD/MXN continues to move on a downward trajectory on enhanced risk sentiment, which could be attributed to the speculation of the Federal Reserve (US) to ease monetary policy tightening in early 2024.
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Dec 22, 2023

The best-performing currencies in 2024 will be AUD and NOK – ING

In the view of economists at ING, the best-performing currencies next year will be those which are most undervalued – step forward the Australian Dollar and the Norwegian Krone.
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