Silver’s deficit is widening, but price is still acting like liquidity never left $XAG 📉

The market is now staring at a sixth straight year of structural shortfall, with 2026 deficit forecasts rising to 46.3 million ounces and reserves down 762 million ounces since 2021. Yet silver is still 34% off its January peak after a brutal 147% run earlier in 2025, which makes this look less like a simple dip and more like a market waiting for the next liquidity shock to force repricing.

Not financial advice. Manage your risk and protect your capital.

#Silver #XAG #PreciousMetals #Commodities #Macro

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