Will I Be Able To Buy Silver For $20 An Ounce In 2023?

I had been buying sterling (92.5%), coin (90%), continental (80%), and other types of non-999 antique silver, but I stopped at the end of 2022, due to silver prices becoming too high. My dollar cost average is a little over $18 an ounce, which isn't too shabby considering the fluctuations in the spot price. In 2023, I'm planning to switch to 999 silver bullion and possibly junk silver (either 90% US or 80% Canadian), mainly due to the wife thinking I wouldn't be able to trade a pair of sterling silver shakers for some meat/sugar/flour if/when the time calls for it. Happy wife, happy life, so I'm switching to bullion or junk.

Anyway, silver spot price has been hovering around $24 lately, up significantly from around $18 just a few months ago. Luckily, premiums have come down a bit, but overall price is still pretty high. I'm not looking to buy American Eagles, which are still insanely expensive, just the lowly Buffalos or even something like Apmex-branded rounds would be fine. I'm not really into the larger bars, because I'm more interested in fractional silver, ones that you can more easily spend when the need arises. But now the rounds are at least $3 or $4 above spot, making it $28 or so, which is a lot higher than what it used to be. I think last year, there was a deal on Walmart from APMEX, where you could get 10 rounds for almost $20 an ounce, with free shipping, no sales tax, and 5% cash back if you use a Walmart credit card. That deal is no longer available, unfortunately, or rather a lot more expensive - I guess they got smart.

So I guess my question is, do you see silver spot going back down to $18 in 2023, which would likely make $20 retail silver available again? I know there are a lot of differing views on this, and predicting the future is not an exact science, but wanted to pose this interesting question, anyway. For me personally, I'm hoping silver spot will come down, because I'm still in the market to pick up more, but I know there are people who are hoping the price will continue to go up, especially if they bought in at the peak, or are looking at it as an investment.

With the dollar weakening relatively (from 110+ DXY to 102) against a basket of other fiat currencies, and the BRICS nations loading up on silver and gold, and investors potentially continuing their flight to safety in precious metals, and the loss of confidence in crypto, a lot could be said for the upward momentum in the price of silver going forward. However, you also got headwinds in the stock market like margin calls and short covering with gold and silver futures (if the market continues to nosedive), a rising interest rate making precious metals less attractive, and a looming recession (and unemployment) eating away at industrial and retail demand for silver and gold, the future of silver price is still very uncertain.

So which forces do you think will win out in 2023? Will silver dip to $18 again? Would you jump back into the market for $20 silver at retail, provided you still have a job by then? Like I said, no one can predict the future, but these are interesting questions to ask.

Cheers!