Gold and Silver News from the Experts

Keep up with the silver and gold price outlook without watching hours of interviews. We summarize what the analysts we follow and the big banks say, tag the topics they talk about, and note whether they are bullish or bearish. Filter by person, metal or topic, and see how their price targets turned out on the silver price prediction and gold price prediction pages.

Last added 5 Nov 2026

Mood

Silver89% bullish, from 9

Bullish 8Neutral 0Bearish 1

Gold93% bullish, from 15

Bullish 14Neutral 1Bearish 0

Most discussed

In numbers

18
interviews and notes: 18
with a price target: $86
middle open silver target (8): $5,600
middle open gold target (10)

Most heard

MetalOutlookFromPrice targetType

Topics

Showing 18 of 18

Michael Oliver: Silver Might Hit $1,000, But a Debt Crisis Will Change Everything

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Analyst

Michael Oliver: Silver Might Hit $1,000, But a Debt Crisis Will Change Everything

Resource Talks · 5 Nov 2026 · Full interview

Silver: bullishGold: bullishDebt and deficitsFed and ratesGold silver ratioInflationMining stocks

Over the next 12 months, Oliver says gold could reach $10,000-$20,000, while warning that the forecast is unusually uncertain.
He expects a government-debt crisis and stock-market bear market to drive money toward gold, silver and miners as bonds become less attractive.
Oliver argues silver could reach roughly $500, and possibly $1,000, because it is undervalued against gold and other metals and may overshoot during monetary panic.
He expects banking stress to force the Federal Reserve toward rate cuts and renewed money creation, despite rising long-term yields.
His longer-term silver case includes a move back above $65 before a potentially rapid advance beyond previous highs; he sees silver outperforming gold.
He favors silver-mining shares, especially the SIL ETF, over long-term Treasury bonds, which he views as a temporary countertrend rally.
Oliver says miners are profitable and historically cheap relative to gold, and could gain two or three times their relative value during the next surge.
He attributes the metals outlook primarily to currency debasement and capital flows, not industrial demand, which he considers a lagging indicator for silver prices.

Gold $10,000 to $20,000 between 5 Nov 2026 and 5 Nov 2027Open

“Don't be shocked if it's 10 or 20,000.” at 20:49

Peter Krauth: Silver Touches $70 as Physical Gold Demand Strains Vault Capacity

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Analyst

Peter Krauth: Silver Touches $70 as Physical Gold Demand Strains Vault Capacity

Money Metals · 28 Aug 2026 · Full interview

Silver: bullishIndustrial demandInvestment demandPhysical marketSupply and deficitsEnergy markets

Peter Krauth says silver remains modestly undervalued and could reach $80-$85 before the end of 2026, supported by monetary and industrial demand.
He views $50 as a new floor for silver, barring a major black-swan event, after the metal held above its former record for months.
Exchange inventories have fallen sharply since deficits began, suggesting consumers have been drawing down existing stocks rather than relying on new mine supply.
Krauth argues reported deficits understate demand because silver entering ETFs is excluded; including ETF flows, last year’s deficit exceeded 300 million ounces.
Solar, electric vehicles, artificial intelligence and data centers should keep industrial silver demand strong, even if some solar manufacturers shift toward copper.
He considers substitution risks in solar overstated because copper is less efficient, requires costly factory changes and may produce shorter-lived panels.
The program also highlights growing demand for allocated physical gold outside the banking system, with vault operators expanding capacity for wealthy clients.
Krauth says geopolitical and energy-supply disruptions could accelerate solar, electrification and supply-chain investment, supporting silver demand and inflation.

Silver $80 to $85 by 31 Dec 2026Open

“So frankly I do think that it's it's still a little bit low. Uh it it something fairer it probably needs to be closer to about 80 85. So I think I think we're heading there this year.” at 11:31

Bank

Goldman Sachs: Gold Is Forecast to Climb as Central Banks Buy the Precious Metal

Goldman Sachs · 28 Aug 2026 · Source

Gold: bullishCentral banksFed and ratesGeopoliticsInvestment demand

Goldman Sachs forecasts gold reaching $4,900 per troy ounce by the end of 2026, versus about $4,600 on August 25.
Central-bank buying is expected to remain strong, averaging 50 tonnes monthly in 2026, as countries diversify reserves against geopolitical and financial risks.
Lower expectations for Federal Reserve rate hikes should remove some pressure on gold, while geopolitical tensions could broaden buying among private investors.
Rising demand for gold call options may amplify price moves in both directions; the forecast does not include this potentially bullish derivatives effect.

Gold $4,900 by 31 Dec 2026Open

“Goldman Sachs Research forecasts that the price of gold will rise to $4,900 per troy ounce by the end of 2026, compared with $4,600 as of August 25.”

Bank

J.P. Morgan: Silver Price Forecast for 2026 and 2027

J.P. Morgan · 13 Aug 2026 · Source

Silver: bearishGold: neutralCentral banksFed and ratesGold silver ratioIndustrial demandPhysical market

J.P. Morgan expects silver to average $70.6/oz in 2026 and $63.9/oz in 2027, with a $63/oz average in Q4 2026.
The bank cut its 2026 average forecast from $84 to $70 after silver prices fell from early-year highs.
Physical-market tightness is unwinding, which could make silver fall more sharply than gold on weak-gold days.
Solar-related silver demand could drop about 30% in 2026, or roughly 60 million ounces, as China destocks and thrifting spreads.
Higher interest rates could reduce demand for non-yielding silver; J.P. Morgan expects the gold-silver ratio near 70 in late 2026 and 75 in 2027.

Silver $70 on average, 1 Jan 2026 to 31 Dec 2026Open

“averaging $70/oz for the year and $63/oz in 2027”

Silver $63 on average, 1 Oct 2026 to 31 Dec 2026Open

“J.P. Morgan Global Research forecasts the price of silver will reach $63 per ounce in the fourth quarter (Q4) of 2026”

Silver $63 on average, 1 Jan 2027 to 31 Dec 2027Open

“averaging $70/oz for the year and $63/oz in 2027”

Bank

Bank of America: BofA cuts 2026 average gold forecast, sees long-term upside

BNN Bloomberg · 8 Jul 2026 · Source

Gold: bullishFed and ratesInflationUS dollarEnergy markets

Bank of America lowered its 2026 average gold forecast 14% to $4,360 an ounce because the Federal Reserve is expected to take a tougher stance.
BofA still believes gold could reach $5,000 an ounce after the Fed’s tightening cycle ends.
Higher interest-rate expectations, inflation concerns, a stronger U.S. dollar and rising oil prices have pressured gold in the near term.
The revision is a short-term downgrade, while BofA’s broader outlook remains positive once monetary tightening is over.

Gold $4,360 on average, 1 Jan 2026 to 31 Dec 2026Open

“On Tuesday, Bank of America said it is reducing its 2026 average gold forecast by 14 per cent to US$4,360 an ounce, citing a more hawkish U.S. Federal Reserve.”

Bank

J.P. Morgan: Gold Price Predictions for 2026 and 2027 I J.P. Morgan Global Research

J.P. Morgan Global Research · 9 Jun 2026 · Source

Gold: bullishCentral banksChina and AsiaFed and ratesGeopoliticsInflation

J.P. Morgan expects gold to average $6,000 per ounce in the fourth quarter of 2026 and reach about $6,300 by the fourth quarter of 2027.
The forecast is supported by geopolitical fragmentation, U.S. fiscal concerns, inflation risks and possible diversification away from dollar assets.
Chinese gold imports and central-bank purchases may be stronger than reported data suggest, while Chinese insurers could become an additional source of physical demand.
The main downside risk is a stronger U.S. economy with persistent inflation that prompts the Federal Reserve to keep raising rates and drives Western ETF outflows.

Gold $6,000 on average, 1 Oct 2026 to 31 Dec 2026Open

“J.P. Morgan Global Research forecasts prices per ounce to average $6,000/oz by the final quarter of 2026, rising toward $6,300/oz by the end of 2027.”

Gold $6,300 on average, 1 Oct 2027 to 31 Dec 2027Open

“J.P. Morgan Global Research forecasts prices per ounce to average $6,000/oz by the final quarter of 2026, rising toward $6,300/oz by the end of 2027.”

Analyst

Michael Oliver: Silver Headed to $300 - $500 This Year and 'It Will Stay There': Michael Oliver

Commodity Culture · 4 Apr 2026 · Source

Silver: bullishDebt and deficitsIndustrial demandMining stocksEnergy markets

Michael Oliver forecasts silver reaching $300-$500 per ounce during 2026 and says the metal will remain at those higher levels.
He attributes the expected move to monetary debasement and strong industrial demand.
Oliver says the projected prices would represent a new reality likely to surprise the market.
He expects silver-mining shares to outperform gold-mining shares.
The discussion also covers his outlook for oil and opportunities in the energy sector.
The supplied show notes do not give a specific gold-price forecast.],
topics:[
debt-and-deficits
industrial-demand
mining-stocks

Silver $300 to $500 between 1 Jan 2026 and 31 Dec 2026Open

“Michael Oliver is making a bold call: silver will surge to $300 to $500 this year, entering a new price reality, as monetary debasement and industrial demand pushes the metal to price levels that will shock the market.”

Bank

Commerzbank: Rate cuts in H2 will drive gold to $5,000 and silver to $90 - Commerzbank

Kitco News · 30 Mar 2026 · Source

Silver: bullishGold: bullishFed and ratesGeopoliticsInflationUS dollarEnergy markets

Commerzbank forecasts gold near $5,000 an ounce at the end of 2026 and $5,200 at the end of 2027.
The bank expects silver to reach $90 by year-end 2026 and $95 by the end of 2027.
Commerzbank expects the Federal Reserve to restart rate cuts late in 2026 and reduce rates by 75 basis points by mid-2027.
It expects the Iran war to end before summer, easing energy-market inflation pressure and allowing markets to reprice rate-cut expectations.
The bank remains bullish despite recent dollar strength and higher bond yields, citing falling real interest rates and a tight silver market.

Silver $90 by 31 Dec 2026Open

“The German bank sees silver prices rising to $90 by year-end and climbing to $95 by the end of 2027.”

Silver $95 by 31 Dec 2027Open

“The German bank sees silver prices rising to $90 by year-end and climbing to $95 by the end of 2027.”

Gold $5,000 by 31 Dec 2026Open

“The bank sees gold prices ending this year around $5,000 an ounce, up from December’s estimate of $4,900 an ounce.”

Gold $5,200 by 31 Dec 2027Open

“Commerzbank expects the rally to extend through 2027, with prices ending next year at $5,200 an ounce.”

Bank

Goldman Sachs: Goldman Sachs raises 2026-end gold price forecast

Engineering News · 22 Jan 2026 · Source

Gold: bullishCentral banksGeopoliticsInvestment demand

Goldman Sachs lifted its end-2026 gold forecast to $5,400 an ounce from $4,900.
The bank cited continued gold diversification by private-sector investors and emerging-market central banks.
Goldman Sachs expects central banks to buy an average of 60 tonnes of gold in 2026.
It assumes private-sector diversification buyers will retain their holdings, raising the starting point for its forecast.
Gold reached $4,887.82 an ounce on January 21 and had gained more than 11% in 2026 at publication.

Gold $5,400 by 31 Dec 2026Reached

“Goldman Sachs has raised its end-2026 gold price forecast to $5 400/oz from $4 900/oz earlier, noting private-sector and emerging market central banks' diversification into gold.”

Bank

UBS: Can commodities rally in 2026?

UBS Global Wealth Management · 12 Jan 2026 · Source

Gold: bullishCentral banksDebt and deficitsFed and ratesGeopoliticsSupply and deficits

UBS expects gold to reach USD 5,000 per ounce by March, remain around that level through September, and ease toward USD 4,800 by the end of 2026.
Central-bank buying, large fiscal deficits, lower US real interest rates, and geopolitical risks are expected to support gold.
Copper and aluminum may rise as supply shortages deepen, driven by clean-energy investment, electrification, and data-center demand.
Oil prices are expected to recover in the second half of 2026 as the current surplus narrows and OPEC+ spare capacity remains limited.
UBS favors broad commodity exposure, gold, and selected commodity-linked equities, with an up-to-5% allocation when conditions are favorable.

Gold $5,000 by 31 Mar 2026Reached

“We now expect gold prices to rally to USD 5,000/oz by March, stay there till September, and ease toward USD 4,800/oz by the end of 2026.”

Gold $4,800 by 31 Dec 2026Reached

“We now expect gold prices to rally to USD 5,000/oz by March, stay there till September, and ease toward USD 4,800/oz by the end of 2026.”

Jim Rickards: Jim Rickards SHOCKS: Gold to $10,000 by 2026 & Silver to $200 – “It's Just Getting Started”

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Analyst

Jim Rickards: Jim Rickards SHOCKS: Gold to $10,000 by 2026 & Silver to $200 – “It's Just Getting Started”

ITM TRADING, INC. · 22 Dec 2025 · Full interview

Silver: bullishGold: bullishCentral banksChina and AsiaGeopoliticsPhysical marketSupply and deficits

Rickards expects gold to reach $5,000 by the end of 2026 and says $10,000 before then would not surprise him.
He links gold’s rise to central-bank buying, flat mine supply, rising demand, institutional allocations and reserve diversification away from US Treasuries.
He says silver could reach $200 an ounce if gold reaches $10,000, after lagging gold and then developing stronger momentum.
Rickards argues central-bank purchases may limit gold’s downside because they tend to buy during price dips, though he offers no guarantee.
Institutional investors typically hold only 1–2% in gold; raising that allocation by one percentage point could materially affect prices.
He says paper silver claims greatly exceed available physical metal, creating the potential for delivery pressure and a short squeeze.
Rickards rejects reports of an official BRICS currency backed 40% by gold, but says BRICS is building payment infrastructure and can use gold for settlement.
He views European disputes over national gold ownership and repatriation as part of a broader conflict between national governments and institutions such as the ECB.

Gold $10,000 by 31 Dec 2026Open

“it would not surprise me, not even a little bit, to see $10,000 goal before the end of 2026. I think we will.” at 8:41

Gold $5,000 by 31 Dec 2026Reached

“I've sort of I've given a forecast to my readers of my newsletter with strategic intelligence of uh $5,000 by the end of 26.” at 8:21

Peter Schiff: Peter Schiff: "Do Not Wait" - Silver to Hit $100 in 2026 & Gold to $5,000

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Analyst

Peter Schiff: Peter Schiff: "Do Not Wait" - Silver to Hit $100 in 2026 & Gold to $5,000

Kitco NEWS · 17 Dec 2025 · Full interview

Silver: bullishGold: bullishDebt and deficitsFed and ratesInflationMining stocksUS dollar

Schiff expects silver to reach $100 in 2026 and says gold should reach at least $5,000, with gold potentially reaching $6,000 if silver reaches $100.
He says Federal Reserve debt purchases amount to money creation and expects the program to expand, possibly into longer-dated Treasuries, during the first half of 2026.
Large US deficits, renewed quantitative easing and rate cuts should push inflation higher, with effects becoming especially visible by the second half of 2026.
He believes silver’s breakout above $50 removed major resistance, while private buying and limited available supply are helping drive the rally.
Schiff says gold has paused near $4,200-$4,300 and may be preparing for a catch-up move; he continues to favor mining stocks over physical metals.
He expects smaller mining companies to attract acquisitions or equity funding as producers generate large cash flows and seek to replenish reserves.
He sees potential for a failed Treasury auction or another unexpected event to trigger a crisis, though he does not know which catalyst will come first.
He expects the dollar to face serious pressure before authorities consider capital controls, saying a dollar index below 70 would be more concerning than 90.
Schiff says retail investors may return to gold and silver after Bitcoin’s weaker performance, while warning that Bitcoin could eventually suffer a major crash.

Silver $100 between 1 Jan 2026 and 31 Dec 2026Open

“I think $100 is a very realistic target for silver in 2026.” at 7:36

Gold $5,000 between 1 Jan 2026 and 31 Dec 2026Reached

“And I think gold will at least go to 5,000.” at 7:57

Bank

J.P. Morgan: JP Morgan sees gold prices averaging $5,055 per ounce by late 2026

Kitco News · 23 Oct 2025 · Source

Gold: bullishCentral banksFed and ratesInflationInvestment demandUS dollar

J.P. Morgan expects gold to average $5,055 per ounce in the fourth quarter of 2026 and maintains a $6,000 target for 2028.
The bank bases its forecast on investor demand and central-bank buying averaging about 566 tonnes per quarter during 2026.
Expected Federal Reserve rate cuts, stagflation concerns, doubts about Fed independence and currency-debasement hedging support the bullish outlook.
J.P. Morgan says foreign investors are shifting small allocations from U.S. assets into gold, describing this as dollar diversification rather than de-dollarization.
The bank views the recent consolidation as a healthy pause after rapid gains, with strong buying and limited selling still supporting prices.

Gold $5,055 on average, 1 Oct 2026 to 31 Dec 2026Open

“forecasting prices could reach an average of $5,055 per ounce by the fourth quarter of 2026.”

Gold $6,000 between 1 Jan 2028 and 31 Dec 2028Open

“She reiterated a long-term target of $6,000/oz by 2028”

Bank

Morgan Stanley: Why Gold’s Rally Is Likely to Go On

Morgan Stanley · 22 Oct 2025 · Source

Gold: bullishCentral banksFed and ratesInvestment demandMining stocksUS dollar

Morgan Stanley raised its gold forecast to $4,400 per ounce by the end of 2026, implying roughly 10% upside from early October 2025.
Central-bank purchases, record gold ETF inflows, expected Federal Reserve rate cuts and a weaker U.S. dollar are seen supporting prices.
Gold has gained nearly 50% in 2025, while its share of central-bank reserves has overtaken U.S. Treasuries for the first time since 1996.
The outlook could weaken if the dollar stays strong, interest rates remain high or elevated prices reduce central-bank and jewelry demand.
Mine supply is growing slowly, but permitting, regulatory and financing barriers make a new gold-mining capex super-cycle unlikely.

Gold $4,400 by 31 Dec 2026Reached

“Morgan Stanley Research expects the rally to continue and revised its 2026 gold forecast upward to $4,400 per ounce, a significant increase from its previous estimate of $3,313.”

Bank

Societe Generale: ‘All that glitters is fear’ as $5,000 gold is now ‘increasingly inevitable’ – Societe Generale

Kitco News · 13 Oct 2025 · Source

Gold: bullishCentral banksChina and AsiaGeopoliticsInvestment demand

Societe Generale projects gold at $4,217 an ounce by the end of 2025 and $5,000 by the end of 2026, with upside risks outweighing downside risks.
The bank raised its outlook after global gold ETF inflows exceeded expectations, including 100 tonnes during the month to the end of Q3.
ETF buying is being driven by elevated uncertainty linked to U.S.-China trade tensions, tariffs and China’s rare-earth export controls.
Societe Generale expects central-bank buying to remain resilient and assumes gold flows will stay 67 tonnes per quarter above normal levels.
The bank says uncertainty is likely to remain above pre-Trump-election levels, even if some recently announced tariffs are never implemented.

Gold $4,217 by 31 Dec 2025Reached

“Recalibrating our gold framework to forecast from today’s gold price (i.e., marking to market the base price but leaving assumptions unchanged), the model points to $4,217/oz by the end of 2025 and $5000/oz by the end of 2026, a 14% increase from our $4,300/oz we released in September.”

Gold $5,000 by 31 Dec 2026Reached

“We now see prices reaching $5000/oz by the end of 2026, as the rate of flows has surpassed our initial assumptions.”

Bank

Goldman Sachs: Goldman Sachs raises 2026 gold forecast to USD 4,900 amid strong central-bank demand

investingLive · 7 Oct 2025 · Source

Gold: bullishCentral banksFed and ratesGeopoliticsInvestment demandUS dollar

Goldman Sachs lifted its December 2026 gold forecast to $4,900 per ounce from $4,300.
The bank expects central banks to buy an average of 80 tonnes in 2025 and 70 tonnes in 2026.
Reserve diversification and de-dollarisation are expected to support ongoing emerging-market central-bank gold purchases.
Geopolitical tensions, inflation concerns and potentially easier US monetary policy are additional supports for gold.
Goldman says risks to the revised forecast remain skewed upward, though higher-for-longer interest rates could prevent the target being reached.

Gold $4,900 by 31 Dec 2026Reached

“Goldman Sachs has raised its December 2026 gold price forecast to USD 4,900 per ounce (from a prior USD 4,300).”

Bank

Citi: Citi price forecasts for silver (higher) and Brent crude oil (lower)

investingLive · 3 Sept 2025 · Source

Silver: bullishEnergy markets

Citi expects silver to rise to USD 43 per ounce within the next few months.
Citi lowered its 2026 average Brent crude forecast to USD 62 per barrel from USD 65.
The bank kept a bullish three-month Henry Hub natural gas target of USD 3.8/MMBtu and sees stronger medium-term prices.
Citi raised its 2027 average aluminium forecast to USD 3,500 per tonne from USD 3,000, viewing aluminium as at least as bullish as copper long term.

Silver $43 between 3 Sept 2025 and 3 Dec 2025Target date passed

“Silver: Citi forecasts prices to climb to USD 43/oz within the next few months.”

Analyst

Eric Sprott: Coming silver squeeze? Why silver price at $250-$500 is 'entirely possible' – Eric Sprott

Kitco News · 6 Mar 2025 · Source

Silver: bullishGold: bullishFed and ratesGold silver ratioMining stocksSupply and deficitsMarket manipulation

Sprott expects gold to finish 2025 above $3,000 an ounce and silver above $50.
He says silver could potentially reach $250-$500, citing targets from Michael Oliver and Don Durrett and endorsing both as possible.
He attributes the upside to a technical silver deficit, with consumption exceeding mine production.
Sprott argues decades of alleged silver-price manipulation have suppressed the metal and that a breakout could follow.
He expects the gold-silver ratio to fall sharply from roughly 90-to-1, possibly reaching 15-to-1 or 7-to-1.
Zero-interest-rate policies and possible tariffs could worsen market conditions and accelerate a bear market, which he believes would support precious metals.
Sprott says he is shorting the broader market while seeking undervalued precious-metals companies trading far below net asset value.
He generally plans to hold companies he buys until they appreciate and are acquired rather than setting a fixed selling price.

Silver $50 by 31 Dec 2025Reached

“I'm sure gold will be well north of $3,000. And I would hope that silver will be north of $50,”

Gold $3,000 by 31 Dec 2025Reached

“I'm sure gold will be well north of $3,000. And I would hope that silver will be north of $50,”

About this page

Where does this gold and silver news come from?

From public interviews with well known precious metals analysts and from forecasts that banks publish. We summarize each one in our own words and link to the full interview or note.

What is the silver price outlook right now?

The mood panel at the top counts how many of the interviews and notes are bullish, neutral or bearish on silver and on gold. Choose a period, such as the last 30 days, to see the latest view.

Is this investment advice?

No. These are other people's opinions, collected so you can keep up with them in a few minutes. Do your own research before you buy or sell.