Posted 3rd March 2023

Silver Price News: Silver Holds Above $21 as Price Shows Signs of Stabilising

silver ag ounce bar

Silver is just about holding above $21 an ounce as investors and traders try to ascertain the precious metal’s true value in a macroeconomic environment in which interest rates are set to continue rising, set against strong industrial demand.

So far this year concern over how much longer the Federal Reserve and other central banks around the world will continue to increase their rates has been the dominant narrative for silver. 

As a result, silver dropped by more than $3 an ounce in February but the early signs in March are that the price is now stabilising and the metal’s strong fundamental case is starting to creep back into the narrative again. 

A key factor in how much higher silver can climb will come later this month when the Fed announces its latest interest rate decision. Another 25 basis point increase should enable silver to continue its recovery while a return to 50 basis point moves is likely to send the price plunging.

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