The silver price forecast leans bullish amid emerging market currency fluctuations, driving non-dollar based demand. RSI at 65 underscores momentum, while trendline support since March holds firm at $27.80. “Spot silver” refers to the live market rate at which silver can be bought or sold instantly. That said, real-world buyers usually pay a premium over spot for markups, shipping, insurance, and other fees. Silver is rising from a solid foundation. Over the last few years, there have been persistent supply deficits. The silver market recorded deficits for four consecutive years ending in 2024, with a shortfall of around 117.6 million ounces by early 2025. This deficit stems primarily from industrial demand, which spiked to an all-time high in 2024, driven by solar panels and electric vehicles. By 2050, the Silver Institute projects that silver demand will be dominated by solar energy and related technologies. Coupled with declining silver inventories, which fell from 400 million ounces in 2021 to 291 million ounces by mid-2024, the only direction for silver prices appears to be upward. Investor mood boosted by stable inflation outlook.
