Why are Silver Prices so high?
23-10-2025 - Silver prices rose by 8.4% over the past month, from $43.799/oz on September 22nd to $47.461/oz on October 22nd. The metal hit a high of $53.023/oz on October 16th, with a low of $43.777/oz on September 24th.
Our one month forecast for Silver is $48.665 per oz, a 2.5% increase from the latest price. Our analysis suggests a balanced market risk around this forecast.
Our current forecast indicates that Supply data has the most significant impact, adding $0.68 per ounce to the price forecast. Specifically, the Inventories family within the Supply data type contributes this impact. While Demand, Supply, and Technical data types align in suggesting upward price pressure, the Flows data type, particularly Exchange Rates, indicates the opposite trend by decreasing the price forecast by $0.12 per ounce. Overall, there is a mix of signals, with Supply data driving the forecast higher, but Flows data conflicting with this trend.
Our one month forecast for Silver is $48.665 per oz, a 2.5% increase from the latest price. Our analysis suggests a balanced market risk around this forecast.
Our current forecast indicates that Supply data has the most significant impact, adding $0.68 per ounce to the price forecast. Specifically, the Inventories family within the Supply data type contributes this impact. While Demand, Supply, and Technical data types align in suggesting upward price pressure, the Flows data type, particularly Exchange Rates, indicates the opposite trend by decreasing the price forecast by $0.12 per ounce. Overall, there is a mix of signals, with Supply data driving the forecast higher, but Flows data conflicting with this trend.
What is the current / spot price of Silver?
Silver Price Today
October 23, 2025
Current Price
18.67
$/t
What is the forecast for the price of Silver?
Silver Price Forecast
October 23, 2025
1 Month Forecast
48.66
$/t
1 Year Forecast
42.98
$/t
What are the short-term drivers of Silver prices?
What are the long-term drivers of Silver prices?
Over the 1 Month horizon the outlook is bullish due to drivers such as: - Silver COMEX Stocks - The shape of the futures curve - Long term price trends Br(None) The top contrary drivers for the 1 Month horizon are: - EWMA-based technical analysis
Over the 1 Year horizon the outlook is bearish due to drivers such as: - Silver COMEX Stocks - EWMA-based technical analysis Br(None) The top contrary drivers for the 1 Year horizon are: - The net positions of speculators on COMEX - The shape of the futures curve - Long term price trends
Will the price of Silver go up?
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