Commerzbank Trims Silver Forecast But Sees Upside Potential

Silver prices have fallen from $70 to $57.50 per troy ounce, according to Commerzbank's Norman Liebke. The bank has lowered its forecasts for silver, now expecting it to reach $67 by year-end and $80 by end-2027.

Despite the decline in price, Commerzbank believes that persistent market deficits will support higher silver prices ahead. The silver market was in a supply deficit for the fifth consecutive year last year, with another deficit expected this year due to declining supply outpacing demand.

The rise in gold prices is also seen as a key driver of silver's expected recovery. By year-end, Commerzbank expects the silver price to reach $67 per troy ounce, down from its previous forecast of $80.