Silver Price Forecast: What Experts Predict for the Future of Silver

Silver is capturing renewed attention as industries shift toward clean energy, safe-haven demand waxes and wanes, and supply struggles to keep pace. This nuanced force—part monetary metal, part industrial driver—makes forecasting its trajectory both intriguing and challenging. Let’s look at what analysts and seasoned voices predict for silver through 2025 and beyond, exploring diverse perspectives with the grain of salt it deserves.

2025 Outlook: Optimism with a Range of Expectations

Broad Analyst Forecasts

Institutional and expert projections for silver in 2025 vary significantly:

• EBC Financial Group notes a rally grounded in industrial demand and ETF inflows. Bank of America sees a 12‑month target of $65/oz, while UBS suggests upside to $70 with favorable macro factors. A consensus range of $45–$75 is common, though most expect trading in the $45–$60 corridor.
• Benzinga highlights geopolitical risk as a bullish catalyst. ANZ sees silver at $35.40, UBS at $36–$38, and TD Securities expects gradual increase—culminating at $36 in Q4.
• Scottsdale Bullion & Coin reports wide-ranging projections. Many foresee silver sitting around $40, with bulls like Jordan Roy‑Byrne, Sprott, and Crescat Capital suggesting $50. JP Morgan and Bank of America are more conservative at $38 and $35, respectively; more cautious estimates from the World Bank and BMO fall into the $26–$35 range.

Ground Reality & Realism

In practice, silver has already responded dramatically in 2025, rising up to around $54–$55, driven by tight supply, industrial surge, and speculative flows. Still, caution remains grounded in the metal’s cyclicality and macro sensitivities, with some views urging restraint.

2026 and Beyond: Diverging Visions and Structural Drivers

Feeling the Structural Deficit

A key recurring theme: supply continues to lag. Metal Focus projects silver’s fifth straight annual deficit in 2025 (~63 million oz), narrowing only modestly in 2026—still sustaining upside pressure. Peter Krauth explains production responsiveness is weak because much silver is a byproduct of other mining operations, leading to a slow supply reaction.

Mid-Term Forecasts: The Middle Path

• EBC Financial Group frames a base-case consolidation in the $40–$60 range through 2026, with a possible push to $70+ if dollar weakness and tighter conditions persist.
• Scottsdale Bullion & Coin notes continued dual demand across investment and industrial areas, expecting ongoing tightness.

Bullish Extremes: Seeking the Stratosphere

Some voices go far beyond consensus:

• Robert Kiyosaki anticipates silver soaring to $200 by 2026, citing inflation, currency debasement, and wealth protection motives.
• Peter Schiff and analysts at GoldSilver envision silver moving past $100 by 2026, spurred by tight fundamentals and elevated demand. DeVere Group echoes a $200 target.
• Tom Bradshaw forecasts a dramatic trajectory: a 40–45% near‑term correction, followed by bullish renewal reaching $375 by 2028.

Institutional Expectations

• UBS sees silver reaching $44 by year-end 2025 and rising to $47 by mid-2026.
• Reuters’ analyst poll points to average price forecasts climbing from $38.45 in 2025 to $50 in 2026, underlined by tightening supply.

Drivers Behind the Divergence

Industrial Growth: EVs, Clean Energy, AI

Renewable energy infrastructure—especially solar—and EVs are increasingly silver-intensive. The Silver Institute notes these demands persistently outstrip production.
Emerging demand from AI and data centers may further amplify needs, with silver designated a “critical mineral” by U.S. authorities.

Investment Flows & Safe-Haven Use

ETFs remain a powerful force: inflows can meaningfully amplify price moves in silver’s relatively small market.
Macro uncertainty, inflation fears, and weakened Fed credibility heighten appeal. As Frank Holmes put it, silver’s role in renewables gives it outsized potential.

Price Ratios & Central Bank Behavior

Gold continues to attract central bank demand; Goldman Sachs warns silver isn’t benefitting similarly, keeping the gold–silver ratio elevated.
Projected gold moves—above $4,000 in 2026—suggest potential momentum tailwinds for silver despite relative weakness.

Summary Table: Forecast Snapshots

| Timeframe | Typical Forecast Range | Bull Case Highlight | Bear or Conservative Perspective |
|——————|—————————|—————————–|——————————————-|
| End-2025 | $35–$50, many near $40 | Bank of America $65, $70+ | Cautious few say mid-$30s |
| Mid‑2026 | $45–$60 | $100+ (Schiff, GoldSilver) | Some risk of correction |
| 2028–2030 | $60–$100+ structural range | $200–$375 (extreme) | Base-case mid-tier drift, ~$50–70 |

Expert Perspective

“Silver’s tightest major metal market of 2025, combined with structural demand from renewables and lagging supply, sets the stage for continued upward pressure. ETFs and macro stress will likely amplify moves more than history suggests.”
This captures the crux: supply tightness and dual-use demand create both opportunity and volatility.

Concluding Thoughts

Silver’s 2025 journey illustrates both its volatility and potential. Most analysts agree on a structural supply deficiency and growing industrial demand, forecasting a likely consolidation in the $40–$60 range. More bullish voices point to $65–$100, while a few foresee extremes between $200–$375 under rare, tail-end scenarios.

Investors should carefully weigh volatility risk, macro sensitivity, and the degree of divergence among outlooks. A tiered or phased approach—balancing exposure with risk—might best navigate this metal’s unpredictable but compelling story.

FAQs

What is the most likely silver price range by end of 2025?

Most institutional forecasts fall in the $35–$50 zone, with a solid cluster around $40, driven by persistent industrial and ETF demand.

Could silver genuinely hit $100 in the near term?

Yes—but such scenarios are highly bullish and rely on deepening deficits, sustained ETF inflows, and macro dislocations. Analysts like Schiff and Kiyosaki suggest it’s possible by 2026, although it’s far from consensus.

What fundamental factors support higher silver prices?

Continuing supply deficits, rising demand from solar, EVs, AI, strong ETF inflows, lowering real rates, and shaky central bank credibility all support a bullish case.

What could trigger a pullback in silver prices?

Potential bear scenarios include rising real yields, dollar strength, supply normalization, profit-taking, or industrial demand slowdown—all of which could push silver back toward the $25–$35 range.

Should investors treat silver as a safe-haven or an industrial commodity?

Both. Silver plays a hybrid role. In stable markets, industrial demand often dominates; but during turmoil or inflation fears, it can act as a cost-effective safe-haven alternative to gold.