Market Watch: Bank of America Now Sees $65 Silver, as Price Spike Reduces London Market to a 'State of Seizure.'
Article by Jules Rimmer in Market Watch
Despite rallying by two thirds in 2025, the price spike in silver shows no sign of abating and, if anything, seems set to become even more extreme, say analysts.
As prices climbed Monday, Bank of America’s global commodity team on Monday published a bullish outlook for precious metals and stuck a $65 per ounce price target on silver for 2026. While they acknowledge a short-term correction is plausible, and physical demand may decline 11% in 2026, lead analyst Michael Widmer still anticipates a physical deficit and that justifies his forecast of a 30% rally.
Having broken $50 an ounce and exceeded its previous record high at the end of last week, spot silver traded towards $51.50 on Monday, pushing past a peak seen last week.Comex silver futures, meanwhile, climbed 5% to $49.71 an ounce, and were poised to take out a settlement record of $48.99 reached Oct. 8, which beat the previous January 1980 record of $48.70 an ounce.
With physical demand exceeding supply and .....