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MORE THAN DOUBLE IN VALUE. TRADING AT $79.70 ON DECEMBER 26 BEFORE SETTLING AROUND $78.65 ON DECEMBER 27, ACCORDING TO THE NEW YORK COMMODITY EXCHANGE, SILVER HAS DELIVERED ONE OF ITS STRONGEST ANNUAL PERFORMANCES SINCE 1979. THE METAL'S 158% GAIN IN 2025 HAS FAR OUTPACED GOLD'S 72% RISE, PROMPTING ANALYSTS TO PREDICT THAT SILVER COULD REACH THE PSYCHOLOGICALLY IMPORTANT $100 MARK BY THE END OF 2026.

THE RALLY REFLECTS A RARE CONVERGENCE OF SUPPLY CONSTRAINTS AND SURGING INDUSTRIAL DEMAND. GLOBAL SILVER DEMAND EXCEEDED SUPPLY FOR THE FOURTH CONSECUTIVE YEAR IN 2024, CREATING A STRUCTURAL MARKET DEFICIT OF 148.9 MILLION OUNCES, DATA FROM THE SILVER INSTITUTE SHOWED. INDUSTRIAL CONSUMPTION HIT A RECORD 680.5 MILLION OUNCES IN 2024, DRIVEN BY EXPANDING USE IN SOLAR PANELS, ELECTRIC VEHICLES, SEMICONDUCTORS, AND DATA CENTERS.

THE TIGHTENING PHYSICAL MARKET HAS CAUGHT THE ATTENTION OF MAJOR FINANCIAL INSTITUTIONS AND COMMODITY ANALYSTS. “SILVER HAS BEEN IN A MULTI-YEAR SUPPLY DEFICIT; GLOBAL MINE OUTPUT HAS LAGGED DEMAND, AND ABOVE-GROUND INVENTORIES ARE DECLINING,” SAID JIGAR TRIVEDI, SENIOR RESEARCH ANALYST AT RELIANCE SECURITIES. THE SILVER INSTITUTE EXPECTS THE MARKET TO REMAIN IN DEFICIT THROUGH 2025, MARKING FIVE CONSECUTIVE YEARS OF SUPPLY SHORTAGES.

INDUSTRIAL APPLICATIONS ARE DRIVING MUCH OF THE DEMAND GROWTH. ELECTRIC VEHICLES REQUIRE 25 TO 50 GRAMS OF SILVER PER VEHICLE—67% TO 79% MORE THAN TRADITIONAL INTERNAL COMBUSTION ENGINES—FOR BATTERY MANAGEMENT SYSTEMS, POWER ELECTRONICS, AND CHARGING INFRASTRUCTURE. THE SOLAR ENERGY SECTOR IS PROJECTED TO CONSUME 261 MILLION OUNCES IN 2025, A 5.5% INCREASE FROM THE PREVIOUS YEAR, ACCORDING TO BMO CAPITAL MARKETS.

WHILE SOME ANALYSTS SEE $100 SILVER AS INCREASINGLY PLAUSIBLE, FORECASTS FOR 2026 VARY WIDELY. SURENDRA MEHTA, SECRETARY OF THE INDIA BULLION AND JEWELLERS ASSOCIATION, TOLD CNBC THAT SILVER COULD TRADE BETWEEN $95 AND $100 PER OUNCE IN 2026, THOUGH HE WARNED THAT SHARP CORRECTIONS OF 18–20% ARE LIKELY AFTER THE RECENT RALLY. RAVINDER SHARMA, SENIOR COMMODITY RESEARCH ANALYST AT SMC GLOBAL SECURITIES, NOTED THAT “THE PREVAILING CONSENSUS FOR 2026 CURRENTLY PLACES SILVER IN THE RANGE OF $70 TO $85 PER OUNCE,” THOUGH HE ADDED THAT SILVER'S “HIGH-BETA CHARACTERISTICS MEAN THAT ONCE MAJOR RESISTANCE LEVELS ARE BREACHED, PRICE MOVEMENTS TEND TO ACCELERATE MORE RAPIDLY THAN THOSE OF GOLD.
MORE CONSERVATIVE FORECASTS REMAIN CAUTIOUS. BANK OF AMERICA UPGRADED ITS 2026 SILVER OUTLOOK TO AN AVERAGE PRICE OF $56.25, WITH A PEAK OF $65, WHILE UBS PROJECTS $55 BY MID-2026. THE U.S. FEDERAL RESERVE'S INTEREST RATE POLICY WILL PLAY A CRUCIAL ROLE, AS LOWER RATES REDUCE THE OPPORTUNITY COST OF HOLDING NON-YIELDING ASSETS LIKE SILVER. THE FED CUT RATES BY 0.75 PERCENTAGE POINTS IN 2025, WITH EXPECTATIONS OF AT LEAST TWO MORE CUTS IN 2026 $XRP #BinanceAlphaAlert $BTC #SECTokenizedStocksPlan #BTCVSGOLD #Silver #cadeaux $ETH