World Bank's 2026 Silver Price Projection

The World Bank estimates the average global silver price in 2025 will reach US$38/troy ounce, an increase of 34% compared to last year (year-on-year/yoy).

They also predict the upward trend in silver prices will continue, with the average rising 8% (yoy) to US$41/troy ounce in 2026.

In its October 2025 edition of the Commodity Markets Outlook report, the World Bank stated that the increase in silver prices in 2025-2026 is influenced by increasing demand, while supply remains limited.

"Silver demand is projected to continue growing steadily, reflecting its dual role as a safe-haven asset and a critical input in fast-growing sectors such as renewable energy and the production of semiconductors," the World Bank said.

"In the near term, industrial manufacturing and installation of photovoltaic panels are expected to support demand, while heightened economic and geopolitical uncertainty may further strengthen safe-haven and ETF-related investment," it added.

The World Bank believes silver prices could rise higher than anticipated if there is an escalation of geopolitical tensions, such as worsening trade tariff or conflicts between nations.

However, there are also various factors that could potentially lower silver prices.

"A durable easing of geopolitical tensions could also curb safe haven demand," the World Bank said.

"In addition, softer industrial demand—particularly from renewable technologies, if subsidies for solar panels, EV adoption, and other clean energy investments are scaled back more than expected—could weigh on silver and platinum prices," they said.