Silver is one of the most popular precious metals, alongside gold and platinum. It is majorly used in jewellery, as well as in electronics and cutlery. Just like gold, silver is considered an investment option. It is available across a range of financial markets. So, it is understandable that people are searching for silver price predictions and forecasts.
In this guide, we will discuss the latest Silver price prediction for the short and long term, providing insightful information about investing in Silver, the latest news related to the industry, and guide you where you can invest in Silver today – with low trading fees.
Silver As An Investment
If you must invest in silver, it is imperative that you get an idea of how the price will move in the future. This will help you decide whether Silver is a worthy investment and also time your investment properly to improve chances of making a reasonable profit.
In keeping with our tradition, we will approach this silver price predictions article carefully. We will provide background information on silver and then consider its price history before discussing its price predictions for the coming years in detail. If you are going to make an investment decision based on this article, it is important that you read carefully and between the lines.
As we’ve stated earlier, silver is a precious metal that is esteemed by many people around the world. It is sometimes referred to as gold’s little brother because it is also considered a store of value. It is used in jewellery production as well as in electronics, cutlery, and other special products. Silver is mined in a similar way that gold is mined. As an investment vehicle, silver is traded in commodity markets, just like gold and oil.
Silver has been regarded as an asset for thousands of years. It can be traded in the form of standard or measured bars. In the modern world, it is traded in the financial market through different commodity exchanges. The commodity companies utilize futures to set guaranteed prices for commodities like silver. Futures are in the form of forward contracts, and they ensure that the companies buy or sell commodities at a determined price.
You can buy silver from financial markets in troy ounces without having to deal with the physical good. As hinted earlier, commodity companies offer the asset to willing investors as forward contracts. In the financial markets, Silver trades by the symbol, XAG.
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Factors That Affect The Price Of Silver
Just like most assets you can buy online, the price of silver is notoriously volatile. Some have attributed it to the fact that silver gets used, unlike gold. However, this is not the end of the story. There are different factors that can affect the price of silver, and we will discuss them briefly:
- Supply and availability – the price of silver respond to supply and availability slightly. If there is an abundant supply and silver becomes readily available, the price can drop slightly.
- Demand and industrial applications – the higher the demand for silver, the higher the price tends to become. The more the precious metal is used for industrial applications, the higher the price.
- Economic distress – in periods of economic distress like inflation and devaluation, many wealthy people buy silver as a hedge to protect their wealth. During such times, it is normal for the price of silver to rise.
- Political issues – political issues in countries with a high supply or demand for silver can affect the price. Political issues can result in restrictions on mining and trading of silver in such countries.
- Other factors – There are several other factors that can affect the price of silver, including the price of gold, short-selling, the strength of the dollar, silver scrap, technology, interest rates, and government policies.
Silver Price History
To appreciate silver (XAG) price predictions you need to look at its price history. Macrotrends.net offers silver’s historical price data, and we will analyze it as quickly as possible.
In 1967, silver opened at $1.96 and closed at $1.79. The average closing price for the years was $1.80. The precious metal didn’t improve so much until 1973 when it opened at $2.04, reached a year-high price of $3.26 and closed at the same $3.26 price. The average closing price was 2.55.
In 1974, silver opened at $3.28, reached a high price of $6.79 and closed at $4.47. The average closing price for 1974 was $4.67. It remained within that range till 1978 when it opened at $4.87 and closed at $6.02.
In 1979, silver opened at $6.08, reached a high price of $32.20 and closed at the same $32.20. The average price was $11.07. In 1980, it opened at $39.95 and reached a high price of $49.45 before closing at $15.50. The average price for the year was $20.49. The price of silver dropped by 47% in 1981 and gained 33% in 1982. In 1983, 1984, 1985, and 1986, it dropped consecutively by 18.03%, 29.41%, 7.79%, and 8.97%, consecutively.
In 1987, silver opened at $5.36, reached a high of $10.93 and closed at $6.70. It went on another lengthy bearish run until 1992. In 1993, the precious metal opened at $3.66 and closed at $5.12. Forward to 1996, it opened at $5.17 and closed at $6.00. In 1997, silver recorded a 25% price increase and in 1998 the price dropped by 16.50%. It gained by 6.39% in 1999 and dropped again by 14.07% and 1.31% in 2000 and 2001.
In 2002, silver opened at $4.59 and closed at $4.58. It gained consistently for six straight years (2002 – 2007). In 2008, it opened at $14.93, reached a high price of $20.92 and closed at $10.79. In 2019, it recorded a solid 57% gain and the price change was even better in 2010 when silver opened at $17.17, reached a high of $30.70 and closed at $30.63. The price of silver dropped by 8% in 2011, gained 6.28% in 2012 and dropped for three consecutive years.
In 2016, silver opened at $13.84, reached a high of $20.70 and closed at 15.99. There were no big changes in 2017 and 2018. In 2019, the precious metal opened at $15.65, reached a high of $19.55 and closed at $17.90. In 2020, silver opened at $18.05, reached a high price of $29.26 and closed at $26.40. The average closing price was $20.69.
In 2021, silver opened at $27.36 and closed at $23.35. Throughout the year, it recorded a low price of $21.49 and reached a high price of $29.42. The average closing price was 25.14. In January 2022, silver opened at $22.81.
Already, we have seen how the price of silver (XAG) has moved in the first couple of months in 2022. It opened the year at $22.81 and has reached $2.26. Considering its volatile nature, this is understandable. However, we do expect that it will continue to grow at this pace.
81% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
Is now the time to add Silver to your portfolio? Read on to find out. We’ve taken some of the latest silver price prediction to answer the question ‘will the price of silver go up?’
Silver Price Predictions
Now that we have discussed how the price of silver has changed in the last 53 years, it is time to consider its price predictions. You can tell from the price history section that silver is a truly volatile asset on the commodity market. Obviously, it will be hard to predict its future prices, but we can analyze the historic data and come up with realistic predictions.
It is important to clearly state at this point that the predictions below may be different from the future prices of silver. However, we use the best methods to arrive at the most realistic predictions for all assets. There is no certainty in the prediction game, and we advise that you should not base your investment decisions on predictions alone. They are helpful but are far from being infallible.
To discover some of the top Silver price predictions per ounce in USD, you’re in the right place. We’ve compiled a list of the most compelling short and long-term forecasts from 2023-2030, helping you to decide whether Silver could be a genuine good investment for you.
81% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
Silver Price Prediction 2023
Silver is a volatile asset, no doubt about that. It will likely rise and fall throughout 2023, but our analysis shows that the price movement will be mostly positive. The implication is that the average price of the precious metal will improve throughout strategic points in the year.
As per our silver price prediction for 2023, a favourable market condition during the first six months of the year should see it reach $28.57 by mid-year. It is also expected that the price will rise further during the latter part of the year. At the end of 2023, the projected price for Silver is $31.95.
According to almost all the predictions that we’ve included, the price of silver is not likely to go down in 2023. Many analysts believe its current bull run will continue throughout the year, with potential price targets including $25 and $32.
Silver Price Prediction 2024
It is also likely that 2024 will be a good year for silver. If it can record the meaningful growth projected for 2023, then there is no reason to believe that it will not reach higher heights in 2024. In fact, our analysis shows that the price of silver could increase by up to 60% from the current price by 2024.
Of course, silver is not expected to rise in a magical manner as soon as 2024 starts. According to our silver price prediction 2024, the Silver precious metal should easily rise to $40.18 per troy ounce.
Are you considering buying and holding silver for the long run? Then it is important you get an informed idea of how the price will move in the coming years. Remember, these are forecasted prices, meaning they are realistic but not certain.
Silver Price Prediction 2025
If this should move as smoothly as we expect, the price of silver is expected to rise by up to 95% from its current state within the next three years. Therefore, 2025 is also expected to be a good year for the precious metal.
Coming into 2025, silver should be able to record a meaningful price increase within the first six months of the year. Our forecast shows that it should trade for at least $44.02 by the end of June 2025.
The silver price prediction 2025 projected to rise further in the last six months of the year to reach $48.79.
81% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
Silver Price Prediction 2026
By 2026, our projection shows that the price of silver (XAG) is expected to grow by more than 105% from its current value. Of course, this will not happen as soon as we get into 2026. As is always the case, the price of the precious metal should fluctuate from time to time, but growth is expected in either half of the year.
According to silver price prediction and forecast for 2026, the average price of the precious metal is expected to be in the region of $51.49 by mid-year. Within the last six months of the year, it is projected that the average price of silver will rise to $52.43.
Silver Price Prediction 2027
If you are planning to invest in silver and then cash out in the next four to five years, 2027 is the year that should interest you the most. So, what will be the price of silver (XAG) in 2027? In order words, what will be the average price of silver in the next five years?
According to the result of our analysis, there is a good chance that silver will rise to $56.47 by mid-2027. During the last six months of the year, the price of the precious metal is also expected to rise further and reach an average price of $60.74 by year-end 2027.
Silver Price Prediction 2028
Though silver is notoriously volatile, we have high hope that its price will continue to increase, even going into 2028. There are chances that the price will drop at some points in the future, but being optimistic and realistic, there is every reason to believe that market factors will be favourable, and silver price will rise further.
As per our silver (XAG) price prediction and forecast for 2028, the precious metal is projected to reach an average price of $64.89 by mid-2028. During the last six months of the year, its average price is projected to rise steadily to $69.02.
Silver Price Prediction 2029
By 2029, our silver price forecast shows that the monetary value of the precious metal must have increased by as much as 190% or more. As we have maintained throughout this price prediction section, the price of silver will continue to fluctuate, but there are high chances that it will continue to go up, on average.
As per our silver price prediction for 2029, the result of our analysis shows that the average price should be about $69.68 by mid-2029. As the year draws to a close, the average price of the precious metal is expected to improve slightly to $72.85.
Silver Price Prediction 2030
Based on the bullish forecasts of experts, the silver price prediction 2030 can reach as high as $81 per ounce. According to the latest data, the average price silver stock price will be traded in that year is $76.75.
2030 is the last year in our silver price prediction article, and we believe it is a special year. 2030 is about eight years away and we believe that eight years is enough time for any asset to yield meaningful return. Even by silver’s standards, a price increase by up to 215% within eight years is normal, and that is what our forecast shows.
81% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
Is Silver A Good Investment?
You don't need to be told that silver is incredibly valuable. It is in the same class as gold when it comes to the financial market. Though gold is more revered and commands more money, silver is still seen as a valuable metal everywhere in the world.
Investing in silver should be a personal affair. Judging by the fact that it is notoriously volatile, some may consider it a very risky investment. However, it is not a high-risk investment by any standard. It is volatile, yes, but the price is always sustained at a certain level in time. Again, the demand for silver will never dry up, which means it will always be valuable.
Judging from our price prediction, silver is bound to become more valuable in monetary terms in the coming years. So, it makes sense to invest. But as we have maintained throughout this article, it is not advisable to base your investment decision on price predictions alone. But considering every important factor there is, silver is a decent investment vehicle.
Silver is a potentially profitable investment. It is notoriously volatile, but our forecasts suggest that the price will rise in the coming years. However, the profit margin may be slim from year to year.
Silver is a decent investment if you are thinking long-term. Though the price fluctuates regularly, silver will remain one of the most widely traded commodities in the world. Every tradable and usable precious metal is good for the future.
Silver Price Prediction - Conclusion
To sum up, this guide provided a detailed understanding of the Silver price prediction and its potential levels. In short, silver price forecasts indicate that the precious metal can take a bullish direction.
We have discussed the Silver price prediction based on the data provided by analysts and algorithm-based platforms. These platforms indicate the possible maximum, minimum, and average price ranges for the silver values in the years ahead.
Finally, we also shared some reasons to trade silver stock in 2023 and below we share what platform you can use to trade silver today.
eToro – Best Silver Trading Platform
eToro have proven themselves trustworthy within the industry over many years – we recommend you try them out.
81% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
Are you considering investing in silver soon but need answers to some important questions? Here are some of the commonest questions we get about silver price predictions:
FAQs Silver Price Prediction
Will silver go up?
Yes, according to our predictions, the average price of silver (XAG) will be around $28.11 at the end of 2023. In 2024, the average price is expected to reach $31.95. In the next five years (2027), XAG is expected to have an average price of $60.74. The projected price for 2030 is $79.58.
Is Silver a good buy?
According to the short and long-term predictions, Silver is potentially a good buy. Most analysts agree that it’s not a commodity to buy in order to make a quick profit. Investing in silver can be a great long-term position as the price is universally expected to increase in the future. Selling too early could cause serious investor regret.
Will silver reach $100?
Yes, silver (XAG) can reach $100 in the future. However, our forecasts show that this is unlikely to happen between 2023 and 2030. It will likely take a few years more, but there are slight chances that the precious metal can reach that price by 2030 or before.
Can silver reach $1000?
It is possible for the price of silver to reach $1000 but that will be several years from now. It may take several decades for the price of silver to get so high, but it is a possibility.
What will be the price of silver in the next five years?
According to our forecast, the price of silver will be around $56.47 by mid-2027 and then $60.74 by the end of the year. 2027 is five years away.
What will be the price of silver in the next ten years?
In the next ten years, the price of silver (XAG) could be anything between $86 and $98. Depending on market factors, the price may fall outside this range. However, that is the most realistic price range for the precious metal in ten years’ time.
Where can I trade silver?
The simplest way to trade silver as a regular investor is through online platforms. There are a few brokers that allow investors of all experience levels to trade silver online. eToro is one of the most reliable platforms for all kinds of investors, and silver is always available on eToro.