Silver Prices Soar 20% This Month, Could Reach $100 by Year-End
Silver has been on an upward trend, rallying about 20% this month and trading near $71 as of August 21, 2026. This uptick is attributed to a combination of macroeconomic and technical factors, according to Phillip Streible, Chief Market Strategist at Blue Line Futures.
The report notes that the loss of 23,000 jobs in the August 7 jobs report effectively ended expectations for a September rate hike by the Federal Reserve. Additionally, Treasury Secretary Bessent doubled the government's bond buyback program targeting 10- to 30-year debt, causing yields to plummet.
The increased demand and lower supply have led to the metal breaking out of a falling wedge pattern that has been building since its highs. The report identifies upside targets of $74, then $90, and ultimately $100 before year-end, with downside floors at $63 to $60.