Lear Capital Forecasts Bullish Silver Market in 2023

Precious Metals Leader Cites Global Focus on Sustainability and Industrial Demand as Key Drivers for Silver's Impending Surge

LOS ANGELES, July 26, 2023 /PRNewswire/ -- Lear Capital recently released a report stating that the value of silver is forecasted to grow in 2023 and beyond. The precious metals leader advised that those seeking physical asset investment options may want to add the precious metal to their investment portfolio.

According to Lear Capital, silver is outpacing gold, a more common precious metal investment, and other precious metals such as platinum and palladium. Historically, silver has performed well during periods of high inflation; although the U.S. Federal Reserve continues to raise interest rates and reduce inflation, Lear Capital's advisers predict silver's value will continue to rise.

Kevin DeMeritt, founder and chairman of Lear Capital, said, "Silver has become a highly in-demand asset, yet the available supply hasn't vastly increased. Numerous investors view silver as a hedge against inflation because it has tended to increase in price during periods of high inflation." He added, "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 global deficit of silver reached an all-time high in 2022 at 237.7 million ounces as the demand for silver rose 18%. This demand is projected to increase in 2023. Silver is used significantly in manufacturing, from the automotive industry to electronics, as well as the manufacturing of solar panels, which are expected to see an increase in demand as the world shifts toward more sustainable energy sources.

While a recession could slow the quick growth of silver, Lear Capital still identifies silver as a strong investment choice, predicting that it will grow beyond its recent value of $26 per ounce and outpace the $30 per ounce record set nearly a decade 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.

SOURCE Lear Capital