Silver Price Forecast: $100 Per Ounce Is Possible in 2026, but Bearish Bias Prevails in Short Term

Finance

Silver Price Forecast: $100 Per Ounce Is Possible in 2026, but Bearish Bias Prevails in Short Term

• Silver has retreated from its recent high of $54.3 to $48.3 per ounce, with short-term forecasts pointing to a further dip to $44.7 by late November.
• CoinCodexs algorithmic forecast predicts silver could surge to $111 by October 2026, marking a potential 131.2% increase from current levels.
• Analysts cite robust industrial demand and a tightening physical supply as key drivers behind bullish long-term silver projections above $100.

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Silver has seen a sizeable pullback from its $54.3 peak in the last month, dipping as low as $45.4 per ounce before a modest recovery that has brought the silver price to its current level of $48.3 per ounce.

But where is silver heading in the future？ Currently, the most plausible scenario appears to be continued bullish price action over the long term, preceded by a slight price decline in the short term.

Algorithmic silver price forecast expects $111 silver price peak in 2026

According to the silver price forecast from CoinCodex, silver is expected to deliver a strong long-term performance to investors. According to the platforms algorithmic prediction, silver is posed to more than double its price in the next year, with a forecasted peak of $111 in October 2026. This would represent a whopping 131.2% increase compared to the current price of silver.

In the short term, the CoinCodex forecast is slightly bearish on the precious metal, as it predicts the silver price to slide to $44.7 by late November.

Analysts expect industrial demand combined with the currency debasement trade to carry silver over $100 in 2026

CoinCodex is not alone in its highly bullish silver price prediction for 2026. In a recent interview with Yahoo Finance, IDX Advisors chief investment officer Ben McMillan said silver could hit $100 per ounce by the end of next year.

McMillan supported his optimistic view by explaining that silver has a “really robust industrial use case”, combined with being part of the currency debasement trade. He expects strong demand for physical silver to come from Chinas solar energy buildout:

“If you look at China‘s version of their big beautiful bill, a lot of that is solar buildout, which is going to need physical silver and there’s a rush on physical silver right now. It‘s very hard to get, in fact, even in one of our funds we’re expecting to take delivery on the December contract.”

McMillan explained that physical silver is facing a supply squeeze:

“We‘re starting to trade physical because there’s more paper contracts than physical and this is similar to what we saw in the 1980s. So, silver is facing its own supply squeeze because of that physical industrial demand.”

BNP Paribas hikes silver target to $100 by the end of 2026. https://t.co/6cKvhKUbVe pic.twitter.com/ZMMBSXRlb1

— Correlation Economics (@GoldForecast) October 14, 2025

Philippe Gijsels, who is the chief strategy officer at BNP Paribas Fortis, also sees the precious metal crossing the $100 threshold in the not too distant future:

“Given the current climate, a $100 silver price is certainly possible by the end of 2026.”

Gijsels also highlighted silvers industrial use in solar manufacturing and EV infrastructure, combined with investors looking to protect their purchasing power by holding real assets, as the key tailwinds for silver.

However, traders should be prepared for lower silver prices in the near term.

The short-term outlook for silver is bearish

Analysts at major bank Citi are also expecting lower silver prices in the short term, lowering their 3-month silver price forecast to $42 per ounce (their previous target was $55). The bank noted that shifts in price momentum, a possible end to the U.S. government shutdown, and easing inflation expectations may put downward pressure on prices in the short term.

Meanwhile, FX Empire analyst James Hyerczyk explained that the silver spot price premiums and short-term borrowing rates have dropped because a significant wave of silver shipments from the U.S. and China alleviated a supply squeeze faced by the London silver market.

He also presented a bearish short-term outlook for the precious metal:

“With technical support levels breached, profit-taking accelerating, and a significant easing of the London squeeze, silver is facing renewed downside pressure in the short term.”

Still, Hyerczyk clarified that silvers long-term fundamentals remain robust.

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