Silver Could Rise To $80 Per Ounce: What Is Driving Prices Up

UBS forecasts that silver prices could reach $70 per ounce by December 2026 and $80 by September 2027, driven by growing demand from artificial intelligence, data centers, and the automotive industry. A global supply deficit, expected to continue for a sixth consecutive year in 2026, could further support prices as mining production struggles to keep pace with demand. However, UBS warns that high interest rates, a stronger U.S. dollar, and declining industrial consumption could create volatility and limit silver’s gains.