Silver Price Outlook: Silver's Stunning 70% Rally Leaves Gold Behind! Analyst Predicts What's Coming in 2026

Silver Price Outlook: As gold continues its record breaking rally, silver has already stolen the show with its 70% rally in 2025 so far. The precious metal has surged significantly over the past few days because of its strong industrial demand led by green energy revolution, continuous buying by central banks, etc.

Silver price rally may continue next year as the precious metal may see a 20% year-on-year growth in its valuations till October 2025 from the current price level, noted Emkay Wealth Management in its report on Friday, October 10.

The precious metal has seen a strong surge in valuation because of growing industrial demand and supply side deficit.

Silver Price Outlook For 2026

"The price of Silver is expected to touch USD 60 per ounce in the next one year, a potential of 20% YoY from the current price level owing to growing industrial demand. The current supply deficit to demand is currently recorded at 20%, and is expected to be in deficit for the foreseeable future," noted Emkay Wealth Management in its report released on Friday.

Silver vs Gold

Silver rate surged above $50 per ounce on Friday, according to Trading Economics. The precious metal saw a sharp surge in its valuation after hitting a record high of $51.3 a day ago. As per the website, silver price has surged over 70% since the beginning of the year. Meanwhile gold prices have surged nearly 60% since the beginning, which makes the white metal a clear winner of the year.

Silver Price Rally: Key Factors Behind Surge

The sharp rally in silver prices has is led by a host of issues including strong industrial demand for the metal. Additionally, investors are reallocating their portfolio with silver investmennt instruments amid expectations of US Fed rate cuts, independence of Federal Reserve, mounting global debt pressures and political uncertainty.

Additionally, supply side bottlenecks have further fuelled the silver price rally. As per Trading Economics, there has been a shortage of freely available silver in the London market which has further added upward pressure on the metal.

Meanwhile, gold and silver prices are likely to grow in the coming months given the current macroeconomic scenario.

Prices of precious metals are closely intertwined with US Dollar currency movements. The expected rate cuts in US may lead to some decline in the dollar further providing support to price growth in gold, according to Emkay Wealth Management.

"Increased preference for gold as against US Dollar by institutional investors and central banks at the heart of appreciation in precious metals. Demand-supply dynamics are favorable to bring upward mobility in silver prices and technically near a break out zone for all time prices," stated Ashish Ranawade, Head of Products, Emkay Wealth Management.