All You Need to Know About Precious Metal Trends In 2023
Even when experts predict gold prices to plunge by the end of 2022, they are most likely to revive in the coming year. The experts at Capital Economics point out that gold started on a brighter note this year only to see prices fall gradually. By the end of this year, gold is more likely to drop to $1,650. By the beginning of 2023, gold prices will likely soar because the metal will have completed its cyclical trough.
Greater Demands for Precious Metal ETFs
Todd Rosenbluth, research head at VettaFi, points out that ETFs seem to have a bright future in 2023, considering their soaring demands in 2022.
Increase in the demand for Gold Share ETFs
This trend was observed in the first half of the current year. Experts claim that the rise in demand for precious metals in the coming years also leads to long bouts of economic uncertainty in 2020–2021. Inclined to invest in gold coins? We can help you choose the right precious metals for future investment gains.
A Hike in Prices for Silver Coins
Today, silver costs around $19 per 1 Oz. Considering how volatile the metal is, we don’t think its prices will get higher than this for this year. Research asserts that 2023 will be no different for silver in terms of volatility and price fluctuations. It will come to $28 by July 2023 and most likely fluctuate around the figure in the next year. However, by the beginning of 2024, the metal will gain market strength and range at around $32. If you already have silver coins, invest in an IRA account.
A Platinum and Palladium Deficit in 2023
Reuters recently had experts lower their price predictions for platinum and palladium in 2023. The Reuters poll suggested the economy in 2023 will not have the kind of raised demand for precious metals like palladium and platinum as in previous years. Prices for palladium and platinum will continue to decrease in the coming years.
Ask Our Experts!
While there are many benefits of investing in precious metals, consult our experts at Orion Metal Exchange before investing in gold and silver coins. Trust us as your precious metal IRA custodians for secure investment accounts. Call us at 1-800-559-0088 for more details.