Swiss bank UBS says silver prices will hit record high

Silver hit a 14-year high, reaching $42 an ounce. UBS raises its mid-term silver price forecast for 2026 to $47 and expects it to hit a new high of over $50. The bank pointed out that geopolitical tensions, U.S. fiscal deficits, slowing global economic growth and the possible rate cuts of the Federal Reserve are the main drivers. In 2025, silver ETF holdings increased by 80 million ounces, reflecting strong market demand for silver as a precious metal and industrial asset.