Silver Prices

29-01-2026 - Over the past month, the price of silver as a raw material has experienced a significant surge, climbing from $69.856/oz to $113.111/oz. This notable increase suggests either a rise in market demand or potential supply constraints affecting the silver market. The forecast predicts a slight decline to $111.695/oz, a decrease of 1.3% from the current price, indicating a generally flat to slightly downward trend. This forecast highlights the risk of potential market volatility impacting raw material prices.

The current market outlook is uncertain, with mixed signals from various data sources. Technical analysis suggests a price drop of $2.805/oz, driven by Price Signals, while Flows and Supply data indicate upward pressure. This conflicting information contributes to the overall uncertainty in the raw material market.

Recent analyses present a bullish outlook for COMEX silver prices in the near term, contrasting with the forecasted decline to $111.695/oz. For example, a report from Astreka notes that many market analysts expect elevated silver prices through 2026. Major banks like UBS and Bank of America project mid-2026 targets of $55/oz and $65/oz, respectively, suggesting that they view the late-2025 price surge as at least partly sustainable. This external analysis offers a contrary perspective to the forecast, highlighting differing opinions on the future trajectory of silver prices.