LBMA Survey Signals Bullish Silver Price Outlook above $100 in 2026
The comments below are an edited and abridged synopsis of an article by Neils Christensen, Kitco News
The latest silver price outlook from the London Bullion Market Association (LBMA) 2026 Precious Metals Analyst Survey shows a dramatically bullish stance for silver, with multiple analysts projecting prices well above the $100 per ounce mark. This consensus is rooted in persistent demand drivers, supply limitations and structural shifts in the global metals market, positioning silver as a standout among precious metals this year.
According to the LBMA survey results, silver’s recent explosive gains—following a nearly 150% rally in 2025—are expected to continue into 2026. Many industry professionals believe this momentum reflects deeper fundamentals rather than mere speculation. The silver price outlook now encompasses a wide forecast range, with some analysts targeting average prices above $125 per ounce and potential trading bands between roughly $62 and $150. This broad spectrum underscores both the optimism and uncertainty inherent in current market conditions.
A key driver behind the robust silver price outlook is the growing structural deficit in the metal, driven by supply constraints and rising demand across multiple end-uses. Unlike gold, most silver production is a byproduct of mining for other metals such as copper, zinc, and lead. This dynamic limits producers’ ability to increase output quickly in response to price incentives, potentially tightening the market further as demand accelerates in areas like solar energy, electric vehicles and electronics manufacturing.
Regional and industrial demand also play significant roles. Silver’s extensive use in clean energy technologies—particularly photovoltaics and grid infrastructure—has intensified demand pressures, contributing to the elevated forecasts captured in the silver price outlook. Analysts argue that energy transition policies and technological advancements continue to expand silver’s strategic importance beyond its traditional roles in jewelry and investment.
Despite the bullish undertones, the silver price outlook also reflects caution. Some analysts contend that if interest rates remain higher for longer, or if industrial demand softens unexpectedly, the market could see periods of correction or consolidation. These divergent views help explain the wide trading ranges suggested in the LBMA survey, highlighting both long-term potential and near-term volatility.
According to the survey, platinum group metals are also expected to perform well, but silver’s comparatively smaller market size and high volatility position it as the most dynamic precious metal in 2026. Its dual identity as both an investment asset and an industrial input further amplifies the significance of the silver price outlook, attracting investors seeking alternatives to more expensive metals like gold.
In summary, the LBMA survey paints a compelling picture of a reshaped precious metals landscape in which silver stands out as a leading beneficiary of evolving global demand patterns and structural supply constraints. Silver rising above $100 per ounce is no longer viewed as outlandish by many analysts, but rather as an indication of real economic and technological trends. As markets adapt to ongoing geopolitical and monetary uncertainties, silver’s role appears poised to expand, making its performance in 2026 a critical barometer for investors and industrial stakeholders alike.
