The price of silver has increased by 115% in 2023, reaching 62.88 dollars an ounce, due to increased industrial demand and the imbalance between supply and demand.

The price of silver has risen significantly in 2023, by 115%, reaching a record level of $62.88 an ounce, surpassing the performance of gold, which has increased by about 60%. This increase is driven by an imbalance between the demand and supply of silver, particularly due to its increased use in emerging industries such as solar panels, electric vehicles, and AI technologies. The Silver Institute estimates an acceleration in industrial consumption by 2030, amid the energy transition and the technological boom. Paul Williams from Solomon Global forecasts that the price of silver could reach $100 an ounce by 2026, due to supply deficits and investor interest. Analysts suggest that investors may opt for various trading strategies, including purchasing coins or bars, exchange-traded products, or shares of mining companies. Although 2026 could bring tests of the $100 threshold, the market will remain volatile, with robust demand and limited supply.