• Nicky Shiels, Head of Metals Strategy at MKS PAMP, spoke with Brieanna McCutcheon about her views on silver and gold into 2023 and beyond
  • Shiels noted the war in Ukraine, persistent inflation, and slowing economies due to global interest rate hiking cycles as factors rekindling interest in gold over the near term
  • In terms of silver, she predicts last year’s record industrial demand continuing this year, despite a potential recession, thanks to the metal’s multitude of uses in the electrification revolution

Nicky Shiels, Head of Metals Strategy at MKS PAMP, spoke with Brieanna McCutcheon about her views on silver and gold into 2023 and beyond.

Shiels noted the war in Ukraine, persistent inflation, and slowing economies due to global interest rate hiking cycles as factors rekindling interest in gold over the near term. MKS PAMP is forecasting a price of US$1,880 per gold ounce over 2023.

She sees the U.S. Fed’s recent rate hikes increasing investor fear and slowing growth in the second half of the year, paving the way for gold to preserve capital until industrial production normalizes.

In terms of silver, she predicts last year’s record industrial demand continuing this year, despite a potential recession, thanks to the metal’s multitude of uses in the electrification revolution.

In terms of gold’s role in the energy transition, she sees it acting as a diversifier to battery metals as the competition for reliable supplies of them potentially exacerbates deglobalization.

MKS PAMP, the primary company of MKS PAMP GROUP, provides precious metals trading and refining services across 11 countries with an emphasis on investment, jewelry and industrial use-cases.


More From The Market Online

Tilray’s Breckenridge Brewery honours Denver Nuggets with new ale

Tilray Brands (TSX:TLRY) subsidiary Breckenridge Brewery launches a new ale to recognize the 2023 NBA championship-winning Denver Nuggets.

Activist investor seeks to overhaul WonderFi board

KAOS Capital, an activist investor and major WonderFi (TSX:WNDR) shareholder, plans to propose five nominations to the crypto stock's board.

Nerds On Site launches AI subsidiary

Nerds on Site (CSE:NERD) reveals the launch of a new artificial intelligence subsidiary called NOS Technical Services.

Energy management stock signs credit agreement and reduces debt

Kontrol Technologies (NEO:KNR) announces it has signed an amended credit agreement with its secured lender and exited forbearance.