Silver logged a record high at $90.00 per ounce on January 14, 2026, before falling by more than 35% to the upper $50s—in one of the fastest and most violent reversals in precious-metal prices on record. Here are the latest forecasts for silver prices and their estimates for the second half of 2026 and beyond.
Few assets in 2026 saw as much volatility as silver. The metal extended its exceptional 2025 annual gains of 148% into the new year, rising from around $66 in December to a record high of $90.00 per ounce on January 14, 2026. It was driven by demand for safe havens, falling U.S. inflation rates, and growing expectations that the U.S. Federal Reserve will cut interest rates.
But this rally reversed sharply when U.S. President Donald Trump nominated Kevin Warsh, known for his tough stance on inflation, to lead the U.S. Federal Reserve on January 30. This triggered an immediate repricing of expectations for rate cuts, which had supported the rise in silver—causing the metal to fall by more than 35% to the upper $50s by mid-February.
Since then, silver has gradually regained momentum, rising again through the 60s and 70s as tensions in the Strait of Hormuz added fresh safe-haven premiums and disrupted industrial supplies. Then, this week, reports related to a U.S.-Iran ceasefire agreement pushed silver higher by more than 4% in a single session, reaching $70.98 on June 15.
Amid these exceptional fluctuations, forecasts for silver and silver prices for the remainder of 2026 have varied significantly across financial institutions. Will the silver-to-U.S. dollar pair (XAG/USD) manage to move toward the $100 level and above, or is the market headed for a deeper correction? Here’s the full picture.