Silver Price Crash May Not Be the End of Bullish Case

The silver price has plummeted since reaching an all-time high near $121 per ounce in January, but some analysts argue that fundamental supply and demand factors remain intact.

A video published by Noble Gold Investments points to data from the Silver Institute showing a structural silver market deficit for six consecutive years, with 2026 on track to be the latest.

This deficit can coexist temporarily with lower prices and physical supply, but it will eventually become increasingly difficult for the market to ignore, according to the video.

The majority of global silver production comes as a byproduct of mining other metals, particularly copper, lead, and zinc. This creates an unusual supply problem because even if the price of silver rises, it won't necessarily encourage miners to increase their output significantly.