Silver Price Forecast Cut as ING Sees Limited Room for Growth

The silver price is expected to increase in the fourth quarter of this year according to ING's latest forecast. The bank predicts that the metal will average $74 per ounce in Q4, a decrease from its previous estimate of $84.

This forecast takes into account the persistent supply deficit in the silver market, which is expected to remain for a sixth consecutive year in 2026, according to the Silver Institute. The institute estimates that the shortfall will be around 46.3 million ounces this year.

ING's commodities strategist Ewa Manthey noted that there is limited room for growth above current levels during Q3, followed by a potential increase of around 8.6% towards the fourth-quarter average. However, the bank has cut both estimates due to higher yields, a firmer Dollar, and weaker investor demand.