The latest World Bank commodity report indicates that silver's performance may surpass gold in the next two years. Although gold has risen by about 33% this year, nearing historical highs, World Bank analysts predict that demand for gold will slow by 2025 due to high prices, especially with reduced demand from central banks and the jewelry manufacturing industry. Gold prices are expected to fall slightly by 1% in 2025 and by another 3% in 2026.
In contrast, the outlook for silver is more optimistic. Analysts point out that the dual demand for silver in the financial and industrial sectors will drive its price higher. Silver is expected to rise by 20% in 2024, a further 7% in 2025, and an additional 3% in 2026. Silver has already increased by more than 35% this year and is supported at the level of $32 per ounce. With the gold-to-silver ratio at a high level, analysts believe the value of silver is undervalued and may further outperform gold in the future.
Additionally, the World Bank maintains a positive view on platinum beyond silver. Platinum is expected to continue rising amid supply shortages, while oil prices face downside risks due to easing supply pressures, with a projected drop of 6% by 2025. The World Bank's analysis suggests that the oil market may experience volatility due to geopolitical factors, but the overall trend remains downward.
