Silver has recently become one of the most popular investment instruments. Last year, it earned even more than gold, with a 45% return. Will the rise in silver prices continue?
Silver has been making its investors smile for the last 3 years.
Silver prices, which gained momentum with the pandemic period, stopped their rise with the policy steps of the Fed. However, last year, it almost became a rival to gold.
Silver earned more than gold
The gram of silver started 2022 at ₺9 liras and 92 kurus. It completed 2022 at the level of ₺14 and 35 kurus. Thus, it closed the year with a gain of 45%.
The gold investor, on the other hand, provided a 43% return last year. The silver investor earned more than the gold investor.
Gold and Money Market Specialist Islam Memis said that silver sees more demand in fields such as medicine, technology and industry compared to gold.
“High probability of yielding around 50% in 2023”
Silver entered 2023 with a record. The gram price has seen the highest level of ₺14 and 77 kurus in the last 6 days.
On the new day, it went up to ₺14 and 65 kurus in the free market.
Memis believes that this rise will continue:
“In 2023, silver is very likely to yield a return of around 50% compared to last year.”
Silver can be bought physically from jewelers as well as through banks.
“Those with silver have won, wait to sell”
So what should a silver investor do?
Memis said that the performance of silver could be a little faster during the 12-month period of the year, but it should be waited a little longer for sales.
Memis advises silver investors to act long-term. It is stated that silver should be evaluated especially in fund returns.
Source: Trthaber / Translated by Irem Yildiz