The price of silver is projected to surpass $100 next year.

With supply failing to meet investment demand, world silver prices could surpass $100 per ounce in 2026, but there is still a risk of correction.

Spot silver started the year at around $29.50 an ounce. In the early months of the year, silver prices sought to recover from the sharp drop following the US presidential election, before entering a slow but steady upward trend throughout March, peaking above $34.40.

However, from the beginning of April, the shock from the large-scale imposition of retaliatory tariffs caused this commodity, along with gold and most other commodities, to fall sharply. The precious metal continued to be stuck in the 32-33 USD per ounce range throughout May.

Prices have been steadily rising in the latter half of this year, surpassing $70 in mid-December. The upward trend in silver prices hasn't stopped, currently trading around $79, approximately 2.7 times more expensive than at the beginning of the year.

Kitco 's annual survey shows that a majority of individual investors forecast silver prices to continue rising in 2026. 212 individual investors (57%) expect silver to reach over $100 an ounce next year.

27%, or 99 investors, predict the price will be in the $80-100 range. Meanwhile, 11%, or 43 survey participants, believe silver will peak in the $60-80 range. The remaining 5% predict the precious metal will fall to $40-60 per ounce, equivalent to the price range in September-December 2025.

Many leading analysts also expect higher prices next year, although some warn of early corrections and the risk of a "blow-off" peak (signaling the end and reversal of a downtrend due to profit-taking pressure, wiping out all value).

In their 2026 Precious Metals Outlook report, analysts at Heraeus, a German precious metals technology group, warned that silver prices could fall in early 2026. They argued that the current price surge, which has pushed gold and silver to record highs, was too rapid. While short-term price increases are possible, a slowdown is inevitable once momentum weakens. Heraeus also noted that high prices are reducing demand for silver in some sectors, but it could rise again if gold continues its upward trend.

Commodity experts at TD Securities, a Canadian multinational investment bank, forecast that silver will cool to around $40 an ounce in 2026. According to them, the "silverflood" (the phenomenon of a massive influx of silver into the market) has led to the largest inventory in history at the LBMA (UK), with over 212 million ounces of silver currently available in warehouses in London. This reduces upward price pressure due to global inventory replenishment needs.

1000-gram silver bars at a precious metal refinery in Istanbul, Türkiye. Photo: Reuters

BMO Capital Markets believes precious metals still have room to rise next year, but silver may struggle to maintain its current peak. They forecast an average price of $56.3 USD, and a peak of around $60 USD per ounce by the fourth quarter of 2026.

Maria Smirnova, an expert at global asset manager Sprott, is more optimistic than the major banks. She believes that silver supply issues remain unresolved this year, while strong investment demand is exacerbating the physical shortage. This sets the stage for strong growth in 2026.

Smirnova also noted that Western ETFs have drawn in over 100 million ounces of silver since the beginning of the year, amid continued thin physical supply. The expert remains optimistic about silver in the medium term, despite prices reaching historical highs. According to technical analysis, the next targets mentioned are $60, $63, and even $100-200 in the next few quarters.

Conversely, veteran technical analyst Avi Gilburt suggests that the upward momentum in gold and silver is in its final stages before entering a multi-year correction cycle starting in 2026. Meanwhile, Kitco analyst Jim Wyckoff believes the silver market will remain strong next year due to industrial demand and tight supply, but it is unlikely to repeat the gains of 2025. Nevertheless, many analysts still predict that silver prices could reach or surpass $75-100 per ounce.

"The silver market is in a mature bull market phase, and after the boom cycle comes a downturn cycle; it's just a matter of time," the expert added.

Source: https://baohatinh.vn/gia-bac-duoc-du-bao-vuot-100-usd-vao-nam-toi-post302031.html