Silver Price Forecast: What Banks Have Published

Reviewed by the Silver Per Ounce Editorial Team · Updated October 7, 2026

$59.76 per troy ounce, today

Forecast table last reviewed October 7, 2026

Silver spot $59.76/oz · updated October 7, 2026

Quick answer: We publish no forecast of our own. The table below lists 11 published targets, from $63.0 to $150, each with its source and date. The current silver price per ounce is $59.76, and the table was last reviewed on October 7, 2026.

We publish no forecast of our own

This site reports the price. It does not predict it. Everything in the table below was written by someone else, and we show who and when so you can judge it yourself.

Our job on this page is to say what was published, how far each source was read, and how the targets have held up against what silver actually did. We don't pick a favorite, and we don't suggest what you should do with any number here.

Each row shows the source, the date, the target, the horizon and a link. The table is built from a data file that records each source, date and link.

What each source said, and when

J.P. Morgan Global Research, 2026-08-13. This is the one forecast we read on the publisher's own page. It gives four targets: $63.0 for the fourth quarter of 2026, $70.6 as the 2026 average, $65.0 for the fourth quarter of 2027 and $63.9 as the 2027 average. The page lists these reasons: physical tightness unwinding, solar demand expected to fall about 30% this year, China's removal of a solar export VAT rebate from 1 April, and higher Fed rates. We don't describe its reasoning beyond that.

UBS, 2026-05-01. Reported by a named news outlet (shown in the table's source link), so this row is secondary: we did not read the bank's own page. As reported, UBS set targets of $85 for end-June 2026, $85 for end-September 2026, $80 for end-December 2026 and $75 for end-March 2027. The report describes these as a cut from earlier targets of $100, $95, $85 and $85 for the same four dates.

Citi, 2026-01-28. Reported by Reuters, via Engineering News, and again secondary, with the bank's page not read. As reported, Citi raised its target for the next three months to $150, up from $100, on the day silver set a record. In that report, silver reached $117.69 that day.

The distinction between read and reported matters. A figure printed on the publisher's page is the publisher's own statement. A figure relayed by a news outlet is that outlet's account of it, and we label it that way.

How the targets changed over time

Forecasts are revised, and the revisions are informative on their own. The sources above show three examples.

J.P. Morgan's page shows both the August 2026 forecast and the one it replaced, from May 2026. The 2026 average went from $84.3 in May to $70.6 in August. The 2027 average went from $85.8 to $63.9. Both are J.P. Morgan figures, read on its own page.

UBS, as reported on 2026-05-01, cut its four targets, with the end-June figure moving from $100 to $85 and the end-March 2027 figure moving from $85 to $75.

Citi, as Reuters reported on 2026-01-28, moved the other way, lifting a three-month target from $100 to $150.

We list these changes as history, with each source's own dates. None of them is a view of ours, and an older target is superseded by a newer one from the same source, not corrected by us.

A reality check from our own price data

A forecast with a date in the past can be compared with what happened. Our price series lets us do that for three of the horizons above. These are facts from our data, and the point is not to criticize anyone: it is to show how wide the gap between a target and an outcome can be.

• Citi's three-month horizon. The target ran to 2026-04-28. Silver's close on that date was $73.20, against the reported target of $150.
• UBS, end-June 2026. The reported target was $85. Silver's close on 2026-06-30 was $59.48.
• UBS, end-September 2026. The reported target was $85. Silver's close on 2026-09-30 was $60.10.

For the future horizon, the J.P. Morgan fourth-quarter 2026 target is $63.0. The live price sits 5.1% from that target as of October 7, 2026. That gap changes with every tick and says nothing about where the price ends up.

Note the setup. These forecasts were published when the price was at very different levels. The record close in our series is $115.08 on January 26, 2026; our silver price all-time high page explains the record file and how far the price sits from it.

Why forecasts miss

A miss is the usual outcome of a long-range price forecast, not a sign of bad faith. Several things work against forecasters.

• Horizon. The further away the date, the more can change. A three-month target and a two-year target are different kinds of statement.
• Assumptions. Every target rests on assumptions about demand, supply, interest rates and the dollar. If one assumption changes, the number can move a lot. The J.P. Morgan page, for instance, lists the Fed's rate path among its reasons.
• Revisions. Banks update their numbers, as the J.P. Morgan and UBS rows show. A forecast is a dated snapshot, not a standing promise.
• The forecaster's position. Banks publish research for clients who trade, hedge or hold metals. A target can reflect the audience it is written for. That is a reason to read it as one input, not as neutral fact.
• Silver's own swings. Our data shows large moves over short windows. The largest 21-day rise in our series was 63.3% and the largest fall was 25.6%. A target set before a swing of that size can look very different after it. Within the past year the lowest close was $46.56 and the highest was $115.08, so the high was 2.5 times the low.

For the forces that push the price in each direction, see our explainer on why is silver price going up.

How to read a forecast

If you read a published target anywhere, a few checks make it far easier to judge.

1. Check the horizon. Is it a quarter, a year, or a longer span? Compare it with what you know about the date.
2. Check average versus period-end. A "2026 average" describes the whole year's mean price. A "fourth quarter" or "end-September" figure describes where the price is expected to be at one point. They are different numbers and shouldn't be compared directly.
3. Check what it assumes. A target without stated reasons is hard to weigh. A target with reasons lets you ask whether those reasons still hold.
4. Check the date. An older forecast may have been replaced. Look for the publisher's newest version.
5. Check how it was read. Was it on the publisher's page, or relayed by a news outlet? On this page, each row says which.
6. Check the starting level. A target is meaningful only against the price when it was written. Our silver price history page shows what the price was at various points.

Another useful cross-check is the gold-silver ratio, which shows how silver stands against gold and has its own ten-year range.

How we review this page

We read each source on the date shown in the table and note whether it was read on the publisher's own page or reported by a named outlet. The table was last reviewed on October 7, 2026. Targets are quoted as published, and they are not our view.

Only one forecast here was read on the publisher's own page. Other forecasts exist, and we have left them out where we could not read a dated figure with its source. We would rather show fewer rows with a clear label than more rows we can't stand behind.

What this can't tell you

This page cannot tell you where silver will be next month or next year, whether any bank's target will be reached, or whether any figure here is right. A published target is one organization's estimate on one date. The numbers are information, not advice, and we do not recommend buying or selling anything.

Frequently asked questions

Where to go next

For today's number, see today's silver spot price on the homepage. If you want to understand what a seller charges over that number, our guide on where to buy silver covers the premium and the questions to ask. Treat both as background for your own decision, and keep in mind that this page recommends nothing.

Sources and further reading

• CFTC: Customer advisory on buying physical metals
• LBMA: Precious metal prices

Keep reading

• Silver price all-time high: the highest close in our series and the gap between it and today's price.
• Silver price history: ten years of prices to set any target against.
• Why silver moves: the drivers behind a rise and a fall.

Data sources: Spot price via api.gold-api.com · COMEX futures (SI=F) via Yahoo Finance. Prices are for informational purposes only and may be delayed. Figures on this page were generated 2026-10-07. Silver is quoted in US dollars per troy ounce.