Silver has settled into a volatile but elevated range in 2026 after a record-setting rally, keeping the metal near the center of precious metals investment. The price reached an all-time high of $121.62 per ounce on January 29, breaking the prior record of $49.95 set in October 2025, then spent much of the second quarter trading between roughly $57 and $89 per ounce.
Institutional forecasts point to a strong year overall. J.P. Morgan Global Research expects silver to average about $81 per ounce in 2026, more than double its 2025 average, and a broader consensus of banks lands near $79 to $81. Some analysts see triple-digit prices returning before the year ends, while others caution that a firmer U.S. dollar and higher bond yields could cap gains.
Market fundamentals underpin the bullish case. The Silver Institute projects a sixth consecutive annual supply deficit in 2026, driven by demand that continues to outrun mine and recycling supply. Industrial applications now account for more than half of annual silver use, with solar panels, electronics, and AI hardware among the fastest-growing sources of demand.
Investment interest has broadened. Western physical buying is expected to recover as price performance and macroeconomic uncertainty draw investors back to coins, bars, and exchange-traded products. Analysts note that silver has lagged gold in recent months, leaving room for the gold-to-silver ratio to narrow if investment demand accelerates.
Source: Investing News Network -- https://investingnews.com/daily/resource-investing/precious-metals-investing/silver-investing/silver-forecast/