When will the Silver price rally?

The price of silver reached all time highs in late January 2026, a perfect storm lead to the historic rally but since then silver has failed to muster up a significant rally to stop the bearish rut, even with it's older sister Gold showing promising signs of strength hovering near $4500 mark.

Many of the largest hedge funds have a target price for silver much higher than the current price. For example; Citi Bank have a bullish price target of $90 expecting capital inflows in to the shiny metal futures market once/if global interest rates begin to drop (Higher interest rates encourages investors to move to income producing assets such as bonds).

From a technical analysis point of view there is now a significant support level (price where buyers step in) at $55/ounce. Attempts to drive prices lower should find willing buyers at this price point for the rest of the year atleast and maybe even sparking a bullish short term rally.

The war against Iran has applied bearish pressure on the precious metal sector with expectations of a global recession due to the blockade of the Strait of Hormuz and multiple reports of attacks on cargo ships not following IRGC instructions and trying to bypass Iranian controlled waters by using Omani waters. Silver although a precious metal is also a industrial metal and a recession slows down production which can reduce demand for silver by industrial powerhouses.

It remains to be seen whether Silver can muster up enough steam to challenge the previous highs laid earlier this year when fears of inflation fuelled a frenzy of retail interest into the market, or if the silver bugs have been bitten by FOMO, fear of missing out, and are now hoping for a rally to exit losing positions.

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