Compared to gold, silver is often overlooked. While silver may lack gold’s staggering price per ounce — the price of gold climbed to over $5,100 in early March — it can be a smart investment. Its lower price tag makes it more accessible for everyday investors, and it has experienced significant gains in recent years.
What’s next for silver prices? Here’s what is driving silver’s value changes and how it could perform in the future.
Read more: How to invest in silver: A beginner’s guide
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The price of silver more than doubled in 2025.
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Many experts believe silver’s price could surpass $100 per ounce.
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Silver demand is higher due to increased industrial demand for solar panels, cars, and electronics.
At the beginning of 2025, silver’s price was about $30. By the beginning of 2026, the price had more than doubled, reaching $79. With such a steep increase, many investors are giving silver another look. But before you put your money into silver, it’s important to understand what factors affect its cost per ounce:
When it comes to precious metals, inflation is one of the biggest drivers behind price. When the value of the U.S. dollar declines, investors often put their cash into physical assets like silver or gold to hedge against inflation.
Silver’s price tends to increase during periods of higher-than-usual inflation. For example, in 2019, inflation was under 2%. During that time, silver’s price was about $15 per ounce. In 2022, when inflation reached 9.1%, silver’s price was about $23 per ounce, an increase of 23% in three years.
When central banks like the Federal Reserve raise rates, banks tend to increase the annual percentage yields (APYs) on savings accounts, certificates of deposit (CDs), and other deposit accounts. As a result, investors put more of their money into bonds and other interest-yielding assets rather than into assets like silver, which don’t pay interest.
When rates fall, silver becomes more appealing, and silver’s price tends to rise.
| Effective federal funds rate | Silver price | |
|---|---|---|
| January 2016 | 0.36% | $13.78 |
| January 2017 | 0.66% | $17.10 |
| January 2018 | 1.42% | $17.16 |
| January 2019 | 2.40% | $15.58 |
| January 2020 | 1.54% | $17.83 |
| January 2021 | 0.09% | $25.35 |
| January 2022 | 0.08% | $23.59 |
| January 2023 | 4.33% | $23.94 |
| January 2024 | 5.33% | $22.77 |
| January 2025 | 4.33% | $30.41 |
| January 2026 | 3.64% | $72.82 |
Instability and economic uncertainty
Political instability, wars, and financial crises can push investors away from traditional investments like stocks and bonds and toward alternative investments like silver. During periods of uncertainty or upheaval, investors prefer investments they can see or hold, like physical silver coins, so the price of silver rises.
Silver price forecasts vary wildly by expert. Some say silver’s price will hold steady or experience modest growth, while others predict huge price spikes. Here are some of the biggest predictions for silver’s price:
Experts with BlackRock and J.P. Morgan agree that the outlook for silver remains strong, and its price will increase. By the end of 2026, experts predict silver’s price will surpass $80 per ounce, and it could reach $100 per ounce by 2030.
Does that mean you should buy lots of silver? Be aware that predictions can change, and they may revise their forecasts at any time.
With the conflict in the Middle East, investors are increasingly concerned about economic turmoil and manufacturing supply chain disruptions. Historically, that means investors will increasingly buy precious metals, such as silver.
Because buying an ounce of gold is prohibitively expensive for new investors, silver coins or bars are a more accessible entry point, so there may be increased demand.
Compared to gold, silver’s price tends to be more volatile, with more rises and falls. Its price fluctuates due to changes in industrial demand and investor confidence.
For example, at the beginning of January 2026, silver’s price topped $113 per ounce. But by February, its price dropped to $77 per ounce, a decrease of about 32% in just a few weeks.
Read more: Silver price volatility: What to know and how to invest
If silver’s price forecasts have tempted you into investing in silver, here are a few tips to keep in mind:
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Invest for the long term: Silver’s price can fluctuate significantly from week to week. Instead of looking for short-term gains, plan to buy and hold silver for long-term goals.
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Diversify your investments: Given silver’s volatility, it should make up only a small percentage of your portfolio.
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Expect price fluctuations: If you check your stock portfolio daily, think twice about doing the same with silver. Its price fluctuations could cause you to panic and sell prematurely. Focus on long-term growth instead.
Read more: Investing in silver or other metals? Here’s how to avoid taxes.
Silver’s price may rise, but predicting short-term changes is very difficult. Historically, silver prices rise during periods of geopolitical tensions and economic uncertainty.
It’s highly unlikely that silver will reach $1,000 per ounce anytime soon. For it to reach that price, currency values would have to drop significantly, and there would have to be a steep increase in industrial demand. A more realistic price would be $100 per ounce within the next one to five years.
While it’s difficult to say what silver will be worth since so many variables affect its price, a value of $100 to $150 per ounce is possible.
