Technical analysts covering the precious metals market are pointing to price targets well above current trading levels for both silver and gold as the 2026 rally continues. Chris Vermeulen of the Technical Traders, in a market discussion published by bullion dealer Sprott Money, said his Fibonacci-based projections put silver on a path toward $106 an ounce, a level he described as achievable within a matter of weeks under current momentum.

Vermeulen pointed to the silver exchange-traded fund SLV as a bellwether for the move, noting a breakout in trading volume and moving averages that he said signal a "parabolic phase," a rare period in which even moderate buying can produce outsized price swings because of the relatively small size of the physical silver market. He characterized silver, copper, and silver mining stocks as the strongest-performing assets in the current cycle, outperforming broader equity indexes.

On gold, Vermeulen maintained a forecast of $5,100 to $5,200 an ounce, a roughly 15% gain from levels discussed at the time of the analysis. Sprott Money's Craig Hemke, who co-hosts the monthly market outlook, framed the move in terms of long-term currency devaluation, noting that an ounce of gold cost roughly $1,100 a decade ago compared with roughly $4,400 today. Both analysts described recent pullbacks in gold prices as short-term, news-driven events tied to margin requirement changes rather than a change in the underlying trend, and said the pattern of rallies followed by brief consolidation has remained consistent through the current cycle.

Source: Sprott Money -- https://www.sprottmoney.com/blog/silver-to-106-golds-wild-rally-2026-price-predictions