Silver Price Forecast For 2024 and Beyond

Below is a comprehensive list of 2024 silver price forecasts from 41 industry leading experts.

For additional information regarding these silver predictions or to buy silver bullion for home delivery or within a qualified retirement account, call 800-776-7253. Be sure to ask for the large volume discount desk when purchasing $50,000 or more of in-kind gold and silver bullion coins or bars.

2024 Silver Price Forecast - Low, Average and High

Annual Low Forecast: $22.90

Annual Average Forecast: $29.82

Annual High Forecast: $68

Silver Price Predictions Summary - Full Commentary Below

The following shows the silver price forecasts for 2024 from 41 of the world’s best analysts, banks, miners and metals dealers. 

• JP Morgan - $30

• Investing Haven - $34.70

• Commerzbank - $29

• Citi - $30.30

• Heraeus Precious Metals - $25.80

• TD Securities - $26

• Chen Lin - $50

• BMO Capital Markets - $23.86

• ICBC Standard Bank - $27

• HSBC - $24.33

• Standard Chartered - $24.30

• Robert Kiyosaki - $68

• 401kRollover.com - $26.10    

• FX Empire - $34.43

• MKS Pamp - $25

• The Silver Institute - $30

• LBMA - $24.80

• Morgan Report - $30

• TF Metals Report - $27

• IRATransfer.com - $23.94

• Wheaton Precious Metals - $50

• UBS - $26.70 Trading Candles - $30

• Japan Bullion Market Association - $26

• Macquarie Bank - $25.38

• Capital Economics - $25

• Certified Gold Exchange - $25.88

• Mitsubishi Corp - $24.75

• Silver Stock Investor - $30

• Metals Focus - $22.90

• Silver Seek - $50

• Verified Investing - $30

Long Term Silver Price Predictions

Here are the silver forecasts for the years following 2024. They’re often pricing forecasts for the next 5 to 10 years. We’ve also added commentary from the many analysts farther down the page.

• Silver Stock Investor Newsletter - $300 by 2025

• McEwen Mining - $250

• David Hunter - $60

• MarketGauge - $35

• Keith Neumeyer - $100

• Equity Management Associates - $30

• Clive Maund - $50

• Crescat Capital - $100

• John Rubino - $100

JP Morgan Silver Price Forecast – $30

In their 2024 Commodities Outlook report, analysts have a silver price prediction of $30 in 2024.

“Across all metals, we have the highest conviction on a bullish medium-term forecast for both gold and silver over the course of 2024 and into the first half of 2025,” Gregory Shearer, Head of Base and Precious Metals Strategy.

InvestingHaven.com – $34.70

Analyst, Taki Tsaklanos, has silver price forecasts of between $34.70 and $48. He says, “The price of silver will move to our first bullish target in 2024 which is $34.70. We predict $48 to be hit either by mid-2024 or mid-2025.”

Commerzbank – $29

Precious Metals Analyst, Carsten Fritsch, has a silver forecast of $29 and mentions that “Silver is starting to attract some significant investor interest.”

She says, “ETF investors may see silver as a cheaper alternative to gold. In contrast to gold, silver is still a long way from reaching a record high. For this to happen, the price would have to double from its current level. Although we do not expect this to happen in the foreseeable future, we see significant upside potential for silver. We have raised our year-end forecast to $29, which means that silver should also make up ground on gold.”

Citi – $30

Analyst, Maximillian Layton, thinks that the dollar still has room to fall because of rising inflation expectations. He stated that, “Precious metals, and especially silver, have near-perfect conditions for the ongoing bull market.”

Heraeus Precious Metals – $25.80

Alexander Zumpfe, Senior Precious Metal Trader, has silver price predictions between $22 and $29, with an average price of $25.80. He says, “Silver’s forecast in 2024 is influenced by its dual role as a precious and industrial metal. Silver is expected to follow gold higher but may not reach record highs as it is held back by overall weaker industrial demand.”

TD Securities – $26

In a 2024 Global Outlook Report, analysts gave a silver price prediction of $26 for 2024. They believe, “As the precious metals environment becomes favorable, silver is also projected to do well as it trends toward $26 per ounce.” They also feel the silver price will benefit as an industrial metal and as market deficits take shape.

Silver Stock Investor Newsletter – $300

“I think silver’s bull could run for the rest of this decade, leaving us with six to seven years to go. My target price over the next few years is for silver to reach at least $300. But before you think I’m crazy, I can assure you that it’s an estimate relating to the gold price and based on how gold and silver have performed in previous bull markets,” says editor Peter Krauth.

Chen Lin – $50

The fund manager says, “Historically, silver tends to do well in the later stage of a gold rally and usually hits a new high. That means silver will likely test the $50 and is likely to exceed it.” 

Lin sees a significant increase in industrial demand for solar panels as being one of the main drivers for the silver price. According to the Silver Institute, in 2023, over 200 million ounces of silver were required for them.

BMO Capital Markets – $23.86

Commodities analysts at the firm have a silver price forecast of $23.86 for 2024. They believe silver is likely to see significant growth from industrial demand, “and importantly, an energy transition angle through use in photovoltaics and power grids.”

McEwen Mining – $250

Executive Chairman, Rob McEwen, thinks gold will reach $5,000 an ounce by 2027, taking silver to $250.

“Hard assets will increase in value as the dollar drops in relative value to other currencies, because governments are irresponsible. They steal from their citizens by printing excess money and borrowing in ways they shouldn’t. Look at the amount of the debt most of the Western world has right now, it’s enormous,” he said.

ICBC Standard Bank – $27

Precious metals analyst, Julia Du sees, “silver trading between $20 and $30 with an average price around $27 an ounce.”

“Projected Fed interest rate cuts may boost economic growth, increasing silver demand. The correlation with gold, especially when gold becomes expensive, is likely to elevate silver prices,” Du said.

HSBC – $24.33

Analyst, James Steel, sees the price of silver between $20.50 and $27.10, with an average price of $24.33 for the year.

“Silver prices will likely trend higher this year and we expect the market to be volatile, possibly supported by historically high gold prices. Silver coins and bars may also be attractive to price-sensitive buyers who may be priced out of the gold market, this should help put a floor on price declines,” he said.

Standard Chartered – $24.30

Suki Cooper, Executive Director of Precious Metals Research at the Bank, has silver price forecasts of $20 to $27.50, averaging $24.30 per ounce for 2024.

She said, “While the gold-silver ratio could remain elevated in the near term, we expect it to start to fall in the next 12 months, particularly as electrification of vehicles, photovoltaic demand and the drive for green energy support silver industrial consumption over the long run.”

Robert Kiyosaki – $68

Best selling author, Kiyosaki, has a silver price prediction of $68 for 2024. For years, Kiyosaki has said, “cash is trash,” and that investors should trade their dollars for a physical silver investment.

401kRollover.com - $26.10    

The analyst at 401kRollover.com believes that global demand could rise to over 1,175,000 ounces in 2024. That, coupled with several uncontrollable geopolitical situations, could propel silver to over $26.10 per ounce on the US markets.   

With inflation still a major concern for many retirees, we feel that the gold and silver IRA markets could see a significant upswing in demand throughout the year. 

FX Empire – $34.43

Technical analyst, Bruce Powers, has a silver price prediction of $34.43 for 2024.

Powers believes that, “Changes in expectations of how fast interest rates may be lowered by the U.S. Federal Reserve and other central banks should have a positive impact on prices of other commodities as well as precious metals. Lower interest rates make assets that don’t produce income more attractive. Further, there are the conflicts in Ukraine and Israel. Those conflicts could spread, and new ones occur thereby driving haven assets, such as silver.”

MKS Pamp – $25

Nicky Shiels, Head of Metal Strategy, has silver price forecasts of between $21.50 and $30, with an average price $25.

“Silver will rally alongside gold, with bullish potential hinging on investor participation outweighing some mild contraction in industrial demand. Overall, after months of being a forgotten asset class, investor focus on precious metals will return as the decline in the US dollar extends once the Fed pivots in,” she says.

The Silver Institute – $30

Executive Director, Michael DiRienzo, has a silver price prediction of $30 the second half of 2024.

“We think silver will have a terrific year, especially in terms of demand,” he said. He also mentioned, “Silver indeed could outperform gold, especially when the Fed begins to ease rates.”

David Hunter – $60

The contrarian macro strategist, has a silver spot price forecast of $60 pre-bust, meaning before the global economy crashes. He feels that the current gold bull market will boost the price of silver along with lower interest rates and a weaker dollar. He also mentions how silver reached $48 in 2011 and at its current price has 100% upside potential just to get back there.

He says, “I actually think silver will push to $60 in this move, pre-bust. And I’ve said it could even go as high as $75.”

LBMA – $24.80

According to the annual LBMA Precious Metals Market Survey, the average price of their silver forecasts is $24.80 per ounce.

The top 3 drivers of silver prices moving higher are:

1. US Monetary Policy

2. Central Bank Demand

3. Geopolitical Risks

“Trust in the US dollar as well as its outright strength, or otherwise, is factored into these three main drivers. Other factors cited by the analysts included, in order of frequency, global interest rate trends, investor behaviour shifts, election de-stability, recession risks, ETF net redemptions, sensitivity of physical demand, US unemployment, and risks associated with small-medium banks and industries in the US and China,” the report states.

Morgan Report – $30

Founder and editor, David Morgan has a silver forecast of $30 for 2024. He gets to this number by using a projected $2,500 gold price and a gold to silver ratio of 70. Morgan also believes that there is a concerted effort to prevent silver prices from breaking through the $30 mark.

TF Metals Report – $27

Craig Hemke, editor and publisher of the report, has a silver price forecast of $27 for 2024.

“Price should rally toward $28 at some point this year, but I don’t expect a breakout. Instead let’s look for a year-end price of $26 to $27,” Hemke said.

IRATransfer.com - $23.94

David Gothing of IRATransfer.com believes silver will make minor moves because of a polarizing political climate in the US that could keep spot prices fluctuating. However, we believe that after the election anyone holding silver bullion could benefit greatly from a big upswing in spot prices. 

Wheaton Precious Metals – $50

CEO Randy Smallwood, has a silver forecast of $50, “but only after gold moves through $2,200.”

“Here’s what usually happens with silver: it does move with gold, but it moves later. Gold will shoot up first and then you will see silver take off rapidly. And silver always outperforms. It’s just late,” said Smallwood.

UBS – $26.70 

Precious Metals Strategist Joni Teves, has silver price predictions between $22 and $29, with an average price of $26.70 per ounce.

Teves said, “We think silver is well positioned to see decent price gains ahead, given it typically outperforms in an environment of rising gold prices and accommodative monetary policy.”

MarketGauge – $35

Michele Schneider, director of research, is very bullish on silver because of inflation expectations and its industrial usage.

“We have an almost perfect scenario where people who haven’t jumped into gold, it’s not too late. They can jump into miners and continue to look at silver. Can silver go to $35, $40 an ounce, absolutely,” Schneider said.

Trading Candles – $30

Founder, Fawad Razaqzada, believes it’s only a matter of time before the price of silver breaks through $30 and pushes to $50 per troy ounce.

He said, “I think it all boils down to silver’s dual uses as a precious metal and an industrial material… This could be the year for silver.”

Japan Bullion Market Association – $26

Bruce Ikemizu, Precious Metals Specialist, has silver price predictions of between $20 and $32, averaging $26.

“Silver has a big upside potential as the gold-silver ratio remains historically high and supply shortage has continued for the last five years,” said Ikemizu

Keith Neumeyer – $100

The founder and CEO of First Majestic Silver, has a silver prediction in the “triple digits”. Neumeyer mentions the deficits in the silver market as a contributing factor to a coming increase in silver prices. He also believes the silver futures market is used to manage the price. And that the gold to silver ratio calls for much higher silver prices.

Neumeyer says “Silver is the only commodity that hasn’t reached a new high in the last decade. But I think once it gets through $50… it’ll be on its way to triple digits.”

Macquarie Bank – $25.38

Marcus Garvey, Head of Commodities Strategy, has silver price forecasts from $22.50 to $27.50, with an average price of $25.38. Garvey feels the silver market will benefit from the price of gold and a deficit of industrial demand for silver.

Equity Management Associates – $30

Larry Lepard, Managing Partner, has silver price forecasts of $30, on its way to $50. “And then of course silver is gold on steroids as we all know. I think silver will go through $30 per ounce easily and then on its way to $50 and then through $50,” he said.

Lepard feels the global economy will eventually crash, inflation expectations will soar and the financial markets will be in turmoil, all pushing investment demand for hard assets.

Clive Maund – $50

Maund, an expert at technical analysis, says, “Silver has a huge amount of catching up to do and once it breaks out… it is expected to race quickly towards its 2011 highs in the $50 area as an initial objective.”

Based on the technical indicators, Maund believes that once silver gets back to the 2020 – 2021 highs in the $30 area, the price of silver could break out and “accelerate dramatically”.

“The conclusion is that time is fast running out to buy silver and silver related investments at the current bargain basement prices and that if you are minded to do so, you had better get on with it.”

Capital Economics – $25

Kieran Tompkins, Commodities Economist, has a silver price forecast of between $20.50 and $28.

He says, “We think the silver price outlook is bright in 2024. Although interest rate cuts by the US Fed are mostly priced in by now, they will still provide a small prop to silver this year. We also think silver will be buoyed by a recovery in global industry, led by rate cuts in advanced economies, and an increase in industrial metals prices with which silver has historically been positively correlated.”

Certified Gold Exchange – $25.88

Head of the Gold and Silver IRA Research Department, David Michael White says; “Our team is confident that the spot price of silver will reach the $25.88 range in the last quarter of 2024.” 

The Certified Gold Exchange (CGE) is a large volume discounter of popular silver bullion items. They discount items like Johnson Matthey bars, American Eagles and Canadian Maple Leaf coins.  Founded in 1992, the Certified Gold Exchange has been predicting the price of silver for over 30 years and with great success. 

If you’re buying gold or silver bullion, contact the Certified Gold Exchange first. CGE uses an algorithm that checks the 6 largest online discounters prices and then automatically beats their price. Visit Certified Gold Exchange today and read about their Price Match Plus Guarantee. 

Mitsubishi Corp – $24.75

Jonathan Butler, precious metals strategist, has silver price forecasts between $21 and $28, averaging $24.75. He thinks interest rates coming down will help silver rise. He also believes economic uncertainty due to “geopolitical and election tensions may also help support silver as a safe haven.”

Silver Stock Investor – $30

Precious Metal expert Peter Krauth, has a silver price forecast of $30 for 2024. Krauth also suggests the price of silver could reach $300 by 2030 due to increased industrial and investment demand.

Krauth says, “We are very likely going to experience the greatest silver bull market of our generation. I do think that silver is an amazing opportunity. If you look around at the investment landscape and you consider all your investment options, I think you’d have a very difficult time finding any asset that is more undervalued, a better buy right now that silver is.”

Metals Focus – $22.90

Founding Partner, Phillip Newman, has a silver price forecast of between $20.50 and $25.50, averaging $22.90.

Newman thinks the precious metals markets are off to a good start mainly because of gold and that silver has underperformed thus far. He sees two challenges ahead for silver though. The first being investors’ safe-haven interest is mainly for gold. And second, he’s concerned about the Chinese economy and its impact on silver markets, given its strong industrial usage. 

Crescat Capital – $100

Partner Tavi Costa, sees the price of silver potentially breaking out to “triple digits”. Using technical analysis, Costa believes silver will surpass the previous high of $50, and then break out to new highs.

Silver Seek – $50

President, Peter Spina, says “If the gold price is moving to record price highs… silver is in the perfect set-up to test $30, with a likely breakout to $50 coming in 2024.”

Spina says, the “fundamentals for the silver market are extremely bullish”. And that “The only last big driver missing for silver prices to explode is investor interest.”

Verified Investing – $30

Gareth Soloway, chief market strategist, thinks silver could break the $30 per ounce level this year.

“We need the silver price to basically break above $25.50. If it can break above $25.50, you’ve got some really good upside that I think next year could retest the $30 level,” he said.

“We know that silver is partially industrial, so we have to monitor the economy as well. But I think overall the store of safety aspect will take control if gold really breaks out as well. And so I do think you could hit $30 in 2024.”

John Rubino – $100

The financial analyst believes that a shortage in the silver supply will inevitably cause prices to rise. He thinks the demand for silver used in solar panels, which is fairly new, will have a substantial impact on the silver market.

Rubino also mentions how the silver market is already running at a deficit, meaning the world is using more silver every year than is produced. And that coupled with investment demand, seeing silver traded at $100 is just a matter of time.

Disclaimer: Silver projections should always be considered speculation regardless of the source. Investors should always do their own due diligence or consult their personal financial advisor before making an investment in precious metals. Historically silver prices have had periods of dramatic swings and an investor could be on the losing side of these market fluctuations. 

To learn more about these 41 silver price forecasts for 2024 or to purchase your physical precious metals with volume discounts call 800-776-7253 today. 

Written by Gold IRA Experts Pat Collins and John Halloran