Analysts eye $300 targets as Silver price smashes records and nears $100 per ounce

Global markets are on alert as the silver price rockets to fresh records, reshaping expectations for precious metals and drawing intense interest from investors.

Silver price launches to historic highs above $95 per ounce

Silver price surged to a historic high of over $95 per ounce today, extending a powerful rally that has lifted the metal 31% year-to-date (YTD). Moreover, the move has accelerated in recent sessions, pushing prices toward a psychologically important threshold at $100.

As the rally intensifies, analysts note that silver is closing in on the triple-digit mark. However, some market strategists are already looking well beyond that level, with bold forecasts suggesting the metal could climb to $300 in 2026 if current trends persist.

Tariff tensions, safe-haven flows and precious metals rally

Renewed demand for precious metals followed President Donald Trump‘s latest tariff actions against the European Union, which heightened geopolitical tensions and stoked risk aversion. As reported, both gold and silver notched record highs yesterday, and the rally continued into today with fresh all-time peaks.

According to Companies Market Cap data, silver now ranks as the second-largest asset by market capitalization, trailing only gold. That said, even in gold’s shadow, silver’s recent performance has been striking and has forced many investors to reassess their exposure.

Commenting on the move, market commentator Mario Nawfal wrote: “Silver just surged to $95 an ounce, breaking all previous records and stunning global markets. Gold may get the headlines, but silver’s run is turning heads fast.” His remarks underscore how quickly sentiment has shifted in favor of the metal.

Macro drivers and industrial demand behind the surge

The latest tariff tensions are only one part of silver’s powerful advance, which has even seen it outperform gold. Moreover, the rally reflects a confluence of structural and macroeconomic forces that go well beyond short-term headlines.

Key drivers include sustained safe-haven buying, expectations that the Federal Reserve will cut interest rates, and the appeal of non-yielding assets in a lower-rate environment. However, tightening conditions in physical markets and rising industrial usage are increasingly seen as central to the story.

Industrial demand already consumes about 60% of annual global silver output, with accelerating use in solar energy, electric vehicles, electronics and high-tech infrastructure. This combination of monetary and industrial dynamics is fueling concerns about a potential silver supply shortage if investment demand remains elevated.

Silver’s path to $100 and near-term targets

Analysts now treat $100 per ounce as a realistic near-term objective rather than a distant milestone. In fact, some believe that the current momentum could deliver that level far sooner than previously expected, assuming market conditions remain supportive.

Economist Peter Schiff suggested that the barrier might be reached imminently. He wrote: “Despite record highs in gold and silver today, Canadian gold miners are barely up, as investors are too afraid of a big sell-off on Tuesday. That likely means tomorrow’s metals rally could be even bigger than today’s, with silver hitting $100 per ounce. Let’s see what happens.” His comments highlight how sentiment can lag price action.

That said, not all observers are focused solely on the next few sessions. Some market participants warn that rapid advances can increase volatility and the risk of sharp pullbacks, even within a broader uptrend. However, the underlying narrative remains strongly bullish in many institutional reports.

Structural imbalances and bold 2026 projections

Beyond the immediate push toward $100, several analysts argue that the longer-term setup is far more explosive. Moreover, they see structural imbalances in the market as a potential catalyst for sustained gains in the coming years.

In a detailed post, one analyst predicted that silver will reach $300, citing what they describe as a fundamental disconnect between paper trading and physical supply. According to this view, banks are holding roughly $4.4 billion in short positions, even as industrial demand already consumes the bulk of annual output.

The analyst wrote: “This is why silver only goes up from here… Because the short position is mathematically impossible to close, and real supply is genuinely limited… You can manipulate paper prices temporarily. You can’t manipulate a physical supply that doesn’t exist. There’s no scenario where they cover these positions at current prices. Price has to rise until either new supply appears or shorts capitulate.” This thesis has resonated with many bullish investors.

Michael Widmer, Head of Metals Research at Bank of America, has also pointed to substantial upside potential. He has stated that silver could rise to between $135 and $309 per ounce in 2026, framing the move as part of a broader real-assets cycle driven by macro uncertainty and green-energy investment.

Implications for investors and the broader metals market

These ambitious targets have sharpened focus on the silver price today and its relationship with gold and other assets. However, professional investors stress the importance of considering liquidity, volatility and position sizing when trading such fast-moving markets.

Moreover, the metal’s new status as the second-largest asset by market capitalization has implications for portfolio construction and risk models. As silver’s role expands, correlations with equities, bonds and currencies may evolve, especially if central banks and large funds increase their allocations.

Meanwhile, the debate over whether a structural short squeeze is unfolding continues to intensify. Some analysts see echoes of past episodes in other commodities, while others emphasize that silver’s deep industrial base could anchor long-term demand in a way that purely financial assets cannot.

Outlook: can the rally sustain beyond $100?

Looking ahead, the trajectory of the current move will depend on how geopolitical risks, monetary policy and physical supply interact. If rate-cut expectations from the Federal Reserve materialize while industrial consumption remains strong, bulls argue that the environment will stay highly supportive.

At the same time, any easing of trade frictions or a reversal in safe-haven flows could test the resilience of the advance. That said, many strategists believe the primary tailwind remains the structural tightness in physical markets, especially if mine supply fails to keep pace with demand.

Ultimately, the recent precious metals rally underscores how quickly sentiment can flip when macro risks collide with constrained supply. Whether the market ultimately validates the most aggressive forecasts for silver price by 2026 will hinge on how these powerful forces evolve.

In summary, silver’s surge to record levels above $95 per ounce, its new standing just behind gold by market capitalization, and increasingly bold projections out to 2026 all point to a market in transformation. While the $100 threshold is now firmly in view, the long-term outcome will depend on whether structural supply imbalances persist and investor appetite for precious metals remains robust.