New Delhi, Nov 18 (NationPress) Silver prices are anticipated to bounce back to $52–$53 per ounce and could subsequently reach $58 and $62, with solid near-term support at $47.60, according to a report released on Tuesday that outlines price targets for investors over the next year.

Silver exchange-traded funds (ETFs) and silver fund-of-funds (FoF) have outperformed physical silver in the past three years, thanks to effective fund management, precise tracking, and increasing investor confidence, as highlighted in a report by Emkay Wealth Management.

The wealth management firm projects strong support levels for silver at $45.60 and $42.00 subsequently.

The report noted that leading silver ETFs achieved one-year gains exceeding 50 percent, compared to approximately 49 percent for physical silver. Returns over three- and six-month periods varied from 34-56 percent, showcasing the rally's strength.

Despite short-term fluctuations, Emkay Wealth Management indicated that the fundamentals of the silver market remain solid. Increased industrial demand from sectors such as renewable energy and electronics, along with limited supply, continues to ensure long-term price stability.

Silver fund-of-funds also reflected this trend, registering one-year returns near 49 percent to 50 percent. The slight performance gap compared to ETFs is attributed to fund-level expenses.

After a minor correction, silver prices are currently around $48.80 per ounce, influenced by profit booking and eased US-China trade restrictions on essential minerals.

Global mining output has increased modestly and is projected to peak by 2026, even as industrial and investment demand rises, fueled by solar photovoltaics, electric vehicles, electronics, 5G infrastructure, and semiconductors.

Recent purchases by Saudi Arabia’s central bank have underscored growing interest from other central banks in silver, heightening demand.