Silver is trading around $70 per ounce in mid-June 2026 after a turbulent stretch that saw the metal swing sharply in both directions. Prices have fallen roughly 42 percent from a January 2026 record high of $121.62, yet silver still sits more than 150 percent above where it traded a year earlier, at levels not seen in more than a decade.
The market's underlying fundamentals remain tight. Analysts point to a multiyear structural deficit, with demand exceeding mine supply by an estimated 160 to 200 million ounces in 2025. Limited new mining projects and shrinking above-ground inventories suggest the shortfall will persist. Industrial demand from data centers, electric vehicle electronics, and automotive applications has helped offset a pullback in solar panel use.
U.S.-listed miners have posted strong results. First Majestic, which generates a peer-leading 66 percent of its revenue from silver, reported record first-quarter revenue of $477 million, up 95 percent, on a 26 percent increase in silver production. The company raised its dividend by 280 percent during the quarter. Pan American Silver closed its $2.1 billion acquisition of MAG Silver in 2025, expanding its position as one of the largest silver-focused producers. Price forecasts vary widely, with Citigroup targeting $110 per ounce in the second half of 2026 while more cautious analysts expect near-term consolidation.
Source: GoldSilver - https://goldsilver.com/industry-news/article/silver-price-outlook-june-2026/