Silver futures traded at $67.16, up 0.02%, with XAG/USD closing at 66.2655, up +1.0580 (+1.62%) on September 18. UBS forecasts silver prices to reach $70 by December 2026, $75 by March and June 2027, and $80 by September 2027. The Metals Focus and Silver Institute forecast a 46.3 million-ounce deficit for 2026, with supply described as inflexible due to its byproduct status in copper, lead, zinc, and gold mining.
Monetary demand for silver is driven by lower real yields, a softer U.S. dollar, and stronger precious-metals investment flows. Industrial demand is supported by solar, electronics, grid investment, electric vehicles, and data-center infrastructure, though solar thrifting may limit demand growth. Upcoming economic catalysts include the U.S. Manufacturing PMI on September 23, Jobless Claims on September 24, Durable Goods Orders on September 25, and PCE Inflation on September 30.
