Silver Prices Plummet Amid Analyst Forecast Disagreements
The silver price has had a wild ride in 2026, plummeting by 44% after reaching an all-time high earlier in the year. As of August 5th, spot silver was trading at $59.89 per troy ounce, having found support around the mid-$57 area before rallying toward $59-60.
The US Federal Reserve's decision to hold interest rates steady and the dollar softening have contributed to the price increase. However, analysts are divided on where the silver price will go for the rest of 2026.
J.P. Morgan forecasts an average price of $81/oz, while ING estimates it at $78. Some independent analysts even predict a bull scenario as high as $135-$309 if physical shortages intensify. On the other hand, Bank of America's base case is a more modest $56 average for the year.