Lear Capital Predicts: Silver Could Spike in 2023

July 25, 2023 at 16:20 PM EDT

Investors seeking options in the volatile commodities market would be wise to look to silver in 2023, as the value of the precious metal is predicted to remain bullish for the rest of the calendar year and beyond, say the advisers at Lear Capital.

While traditional portfolio holders may prefer to invest in historical winners like gold, silver’s growth is currently outpacing this and other precious metals, including platinum and palladium. Lear Capital advisers weren’t surprised by silver’s recent gains, as this precious metal has historically performed well during periods of high inflation. Yet, even as the U.S. Federal Reserve continues to raise interest rates and reduce inflation, the experts in precious metal investments predict silver’s value will continue rising, with several factors driving its sustainable growth.

"Silver has become a highly in-demand asset, yet the available supply hasn't vastly increased," says Kevin DeMeritt, founder and chairman of gold and precious metals firm Lear Capital. "Numerous investors view silver as a hedge against inflation because it has tended to increase in price during periods of high inflation. Silver is also needed for industrial and clean energy processes, which could help drive its price to more than $30 an ounce this year."

The industrial need for silver is growing, as its use is critical in everything from automotives to electronics and many green sectors, including solar panels, whose demand is predicted to rise as the global community shifts toward a cleaner energy supply. At the same time, the global silver deficit reached an all-time high of 237.7 million ounces in 2022, with production not expected to meet necessity at any point in this decade, as the desire for silver rose 18% in 2022 alone and continues to build. Advising mild caution as a looming recession could put a slight damper on silver’s meteoric rise, the experts at Lear Capital still believe silver is a strong choice for investors, likely to surpass its recent high of $26 per ounce and outpace the $30 an ounce record set nine years ago.

About Lear Capital

Founded in 1997 by precious metals expert, analyst, and The Bulls, the Bears, and the Bust author Kevin DeMeritt, Lear Capital offers investors the chance to diversify their portfolios with unique approaches to purchasing precious metals, including the Gold and Silver IRA. Employing a team dedicated to providing investors with real-time information and pricing on gold, silver, platinum, and palladium, Lear Capital is uniquely positioned to offer investors the convenience of online capabilities with the expertise and support of a brick-and-mortar institution. To date, the team has handled more than $3 billion in trusted transactions.