Silver (XAG/USD) is trading slightly above the $20.50 mark. This price is the year-end forecast of strategists at Commerzbank for the precious metal.

Silver to surge towards $25 by end-2023

“We have confirmed our price forecast for silver: the silver price is likely to be trading at $20.50 by year’s end, and to increase to $25 by the end of 2023.” 

“Thanks to its latest upswing, silver has noticeably reduced its previous significant undervaluation as compared with gold. Silver has further catch-up potential, in our view. This is suggested not least by the important role that silver plays in decarbonisation, the buzzwords here being photovoltaics and electric vehicles.”