Silver finished the year at just over $24 spot, under the year high of $26.36 and well over the low of $17.81. There was certainly some buying activity and we saw demand for silver rounds at the lows and it continued through the end of 2022. The general forecast is bullish for 2023 and we see a positive outlook for silver rounds.
Now as the market prepares to open for the first time in 2023, people are wondering about and asking where the market is headed in the new year.
We of course don’t have a crystal ball. But we can take a look at what has been driving the markets and take a look at the recent historical values. Most predictions show silver pushing higher, even in to the mid $30’s by midway through the year.

Caesar Augustus Silver Rounds From The Ohio Mint
Factors to consider for purchasing silver rounds
Gold, among other precious metals is seeing strength over $1800 which is positive for the silver forecast. Some advisors are still pointing to silver as the metal of choice though with a long-term outlook of $50 or more per ounce in coming years. It isn’t entirely out of the question as silver spot peaked just under $50 in 2011. That puts it around half the highest price ever just 12 years later.
While inflation doesn’t drive precious metals like currency, the dollar is moved by it and the Federal Reserve. Typically, scarcity can be the biggest factor, along with demand, to push the price of silver up or down. Recent reports show silver supply could be lower in the coming months with the potential to push silver over $30 as many analysts are predicting.
The futures market appears bullish on silver perhaps in light of a potential physical shortage in 2023.
Silver tends to fluctuate a bit more than gold due to its uses in and demand from industrial manufacturing operations. Demand was strong in 2022 and we see that carrying forward into 2023. Your decision to invest in precious metals shouldn’t be speculative or based on price dip FOMO.
Silver Forecast Is Strong
Silver has a place in portfolios for various reasons including hedging against inflation, a fallback for currency issues, and the stronger price value over the dollar. It appears the bullish reversal is complete with silver climbing strongly off the September low of $17.81.
Again, we can’t see the future, but indicators are pointing at a rise in silver over the coming months and possibly ending the year over $30. Learn more about The Ohio Mint’s silver rounds today.