Andrey Litvinov

Silver, like gold, is considered a defensive investment asset in conditions of instability, as well as a traditional inflation hedge instrument. Silver could be in a more privileged position in the near future as industrial demand for it grows.

The London-based research firm is forecasting a year-end decline to $1,650 an ounce, but the rally will resume in 2023.

The Kingdom began to develop the country's largest gold mine amid a general trend of increased mining.