Forecasts for the silver price in 2026

Very optimistic market observers believe that the price of silver could double. But there are also other voices. Expectations of interest rate cuts, a multi-year deficit in silver and exploding industrial demand, not least due to AI, digitalisation, electromobility and photovoltaics, are making silver shine. UBS, for example, sees the price of the precious metal at US$42 to US$44 for 2026. However, US$44 to US$47 per ounce would also be possible.

HSBC is not as optimistic, with just under US$34 per ounce of silver. Citigroup expects US$43 per ounce. The consensus among analysts surveyed by news service Reuters is US$34.58 per ounce, making a significant correction likely. If the gold-silver ratio is historically around 60:1 and today around 80:1, a ratio of 60:1 today would mean a silver price of more than $60 per ounce. Even if new technologies in the photovoltaic industry were to reduce silver consumption, this is still a steadily growing market that requires vast amounts of silver.

The same applies to electromobility, which is currently enjoying global success. On the one hand, profit-taking could hurt the price of silver, but on the other hand, investment interest in silver seems to be increasing overall. This is because silver, like gold, is a safe haven. With the dollar weak, rising government debt, and geopolitical crises, investors are therefore keen to seek refuge in silver. Investors should not ignore mining companies with silver in the ground.

Endeavour Silver – https://www.commodity-tv.com/ondemand/companies/profil/endeavour-silver-corp/ – is one of the successful producers. The company’s projects are located in Mexico, Chile, and Peru. Commercial production recently began at the Terronera project in Mexico.

Skeena Gold & Silver – https://www.commodity-tv.com/ondemand/companies/profil/skeena-gold-silver-ltd/ – is developing a high-grade, low-cost gold-silver project (Eskay Creek) in British Columbia, and two other projects that were previously in production are also in the spotlight.

Current company information and press releases from Skeena Gold & Silver (- https://www.resource-capital.ch/en/companies/skeena-resources-ltd/ -) and Endeavour Silver (- https://www.resource-capital.ch/en/companies/endeavour-silver-corp/ -).

Sources:

https://www.ftd.de/finanzen/boerse/exchange-traded-funds/silberpreis-prognose/

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