Published: Jun 17, 2026 - 4:09 AM In this presentation, Jeffrey Christian of CPM Group gives a precious metals update focused on gold, silver, platinum, and palladium prices. He also explains how CPM Group analyzes supply, demand, investment demand, as well as market balances. Jeff discusses the gold price outlook, silver market update, price consolidation, and the potential for continued volatility over the next several months. Jeff then explains why CPM Group separates investment demand from fabrication demand when calculating precious metals surpluses and deficits. He discusses the difference between metal used by fabricators and metal bought by investors, why investment demand is a major driver of gold, silver, and platinum prices, and why including investment demand with fabrication demand can distort the view of the physical market. The presentation also looks CPM Group’s historical buy and sell recommendations for gold, silver, and platinum, showing how better research, better data, and a disciplined approach to supply and demand analysis can lead to stronger investment results. CPM thanks Monetary Metals for making this paid CPM research available to our viewers. If you're interested in learning more about how gold leasing works, visit www.Monetary-Metals.com/CPM Source： https://www.kitco.com/opinion/2026-06-16/silver-price-forecast-60-price-risk-next-move-higher

May 17, 2026 HSBC has increased its silver price forecasts for both 2026 and 2027, although the bank continues to expect limited upside for the precious metal over the medium term. HSBC now projects silver will average $75 per troy ounce in 2026 and $68 per ounce in 2027, compared with previous forecasts of $68.25 and $57, respectively. Silver Rally Fueled by Safe-Haven Demand and Tight Supply Silver surged to a record nominal high of $121 per ounce in late January, supported by soaring gold prices, constrained supply conditions and strong safe-haven demand linked to tariff concerns and geopolitical tensions. The metal later pulled back sharply to around $64 per ounce in early February following a conflict-driven rise in the U.S. dollar and weakness in gold prices, before recovering to trade above $86 per ounce. HSBC Sees Smaller Supply Deficits Ahead Despite raising its price outlook, HSBC maintained a cautious stance, arguing that shrinking supply deficits and softer industrial and jewellery demand are likely to prevent sustained gains. The bank expects the global silver market deficit to narrow to 73 million ounces in 2026 from 143 million ounces in 2025, before tightening further to 25 million ounces in 2027 as mine production and recycling supply increase. “Moderating deficits, in our view, will not be sufficient to propel silver sharply higher for prolonged periods,” said James Steel, chief precious metals analyst at HSBC. The bank expects prices to weaken during the second half of both 2026 and 2027. Industrial and Jewellery Demand Expected to Ease Industrial demand, which accounts for more than half of global silver consumption, declined to 657 million ounces in 2025 from a record 679 million ounces the previous year. HSBC said manufacturers have increasingly sought to reduce or substitute silver usage in response to elevated prices, and the bank expects that trend to continue. The bank forecasts industrial silver demand will decline further to 642 million ounces in 2026 and 618 million ounces in 2027. Jewellery demand is also projected to fall to 157 million ounces this year from 189 million ounces in 2025. Supply Growth Seen Supporting Market Rebalancing On the supply side, HSBC expects mine production to remain broadly unchanged at 848 million ounces in 2026 before rising to 868 million ounces in 2027. Recycling supply is forecast to increase to 216 million ounces this year from 197 million ounces in 2025. Dollar Weakness and Geopolitics Could Offer Support James Steel said expectations for a weaker U.S. dollar and ongoing geopolitical uncertainty could continue to provide some support for silver prices. However, he cautioned that “the gold:silver ratio is likely to widen, allowing silver to ease even if gold rallies.” HSBC set year-end silver price targets of $70 per ounce for 2026 and $65 per ounce for 2027. Source: https://www.msn.com/en-us/money/savingandinvesting/hsbc-raises-silver-forecasts-for-2026-and-2027-but-warns-upside-may-be-limited

Silver price forecasts across key horizons have been sharply cut by UBS, driven by subdued investment demand, weaker industrial usage, and climbing mine production.

Silver price (XAG/USD) claws back a majority of its early losses and recovers to near its opening price around $84.00 during the European trading session on Monday.

Silver prices steadied into the end of the week, with the metal recovering modestly after the sharp swings seen earlier in March.

Global precious metals markets witnessed significant pressure on Tuesday as silver prices declined sharply, with the XAG/USD pair falling below the critical $94.00 threshold amid renewed demand for the US Dollar.

The silver price’s blistering rally came to an abrupt halt on Friday as XAG/USD collapsed by almost 30%, briefly plunging from Thursday’s record high above $120 to near $83.

The silver price in US Dollars has surged to fresh record highs, with XAG/USD trading around $109 per ounce, as momentum-driven buying and a weaker US dollar continue to propel the market higher.