Silver prices to rebound to $52 in near term
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New Delhi: Silver prices will rebound to $52–$53 an ounce and then potentially advance to $58 and $62, with strong near‑term support at $47.60, a report said on Tuesday, giving investors price target levels for the next 12 months.
Silver exchange-traded funds (ETFs) and silver fund‑of‑funds (FoF) outperformed physical silver over the past 3 years due to robust fund management, efficient tracking, and growing investor confidence, the report from Emkay Wealth Management said.
The wealth management firm expects further strong support levels for silver at $45.60 and $42.00, in that order. The report cited one‑year gains of over 50 per cent by leading silver ETFs versus about 49 per cent for physical silver. Over three- and six-month periods, returns ranged between 34-56 per cent, underscoring the strength of the rally, it added.
Emkay Wealth Management said that despite short-term volatility, the fundamentals of the silver market remain strong. Rising industrial demand from sectors such as renewable energy and electronics, coupled with constrained supply, continues to support long-term price stability.
