Acquiring silver is known to be a great way for people to diversify their savings during times of economic turmoil and rising inflation. So, with the challenges facing Americans today, it should come as no surprise if the demand for silver increases, and many financial experts think it’s increasingly likely that the price of the precious metal will go up and hit an all-time high.
Discover simple steps you can take today to help secure savings and your long-term financial future with confidence. No cost, no obligation.
Or dial toll-free 888-317-4188 to speak with a Gold Specialist about your needs and goals now.
Silver is one of the safest choices you can get in a world that relies even more heavily on debt and money printing since they aren’t associated with debt. A bar of silver is debt-free, so its value actually goes up when central bankers print money, which is one of the reasons why the current trend is super-bullish for gold and silver. In fact, Bank of America and Goldman Sachs have often released bullish forecasts for precious metals because, they say, the Fed cannot print silver or gold.
In this article, we will be taking a look at the factors impacting the price of silver, what could cause it to rise, and when these triggers could happen and possibly result in silver hitting $100 an ounce.
The current silver price and silver spot price history
As of the time this article was last updated, the current silver spot price is $25.28 an ounce (+0.46%). You can also view our live silver price ticker at the top of every page on our website to get real-time price updates 24/7.
As an additional resource, you can use our interactive silver price chart and calculator below. Explore silver’s price history here and use the slider at the bottom to choose the time segment.
Silver Spot Price History Chart:
Comparing the current silver price to its modern price history is the first step toward analyzing the possible price development of the popular precious metal. If you want to look even further back, you can check out our article on the history of American silver dollars and their values today.
Today, the price of silver is around half its all-time high of almost $50, which it achieved in 1980. Coming off of the pandemic in 2020–2021, the price of silver per ounce has been steady. However, when looking back over the past five years, we can see that it has risen over 30%. So, what’s the highest price silver has ever been, exactly?
What is Silver’s all time high price?
Silver reached its all-time highest price of $52.50 per ounce on January 21, 1980 (adjusted for inflation approximately $165 per ounce). The price spike was so high that the commodity exchange market took measures to curb the price by banning all silver orders other than liquidation orders. This resulted in a major crash in the price of silver known as “Silver Thursday”. While it may seem that we are currently far from the highest price silver has ever been, there are many factors that could help silver go up in price. As a matter of fact, the price of silver per ounce has the potential to break records in the next five years. We’re seeing a lot of signs that could show the silver market positioning itself for a boom.
Here are some of the factors that could make silver go up to nearly twice the highest price silver has ever been, and possibly to $100 an ounce.
What factors could make silver go up to $100 an ounce?
While the price of silver would need to rise by more than 400% to reach $100 an ounce, it isn’t out of the question that it could happen. Will silver go up? Here are the factors that could drive silver to new historic highs.
1) Uncertainty in the Stock Market
Although the cost of silver is usually uncorrelated with the stock market, precious metals prices historically have risen as equity values sank. If the stock market sees a correction, the price of silver could go up.
Stock indexes were at an all-time high back in December of 2021, but in early 2022 they took a dip, which may indicate that stocks are overvalued. This is also supported by the Buffett Indicator, which compares the value of the stock market to our GDP (gross domestic product).
If people start losing confidence in the stock market, they begin to ask questions just like you such as “Will silver ever hit $100 an ounce?” or “what other assets can I turn to?”; and history tells us that they may turn to silver as a defensive asset to diversify their savings.
2) The Silver to Gold Ratio Shows Silver is Currently Cheap
The current price of silver is at around half of its all-time high, which makes it an attractive.
We can also see how cheap silver is by comparing the ratio of the cost of silver to the cost of gold. This is called the gold-to-silver ratio, which savvy precious metals investors and traders look at constantly to see where the pendulum will swing next. At its very basic, the gold-to-silver ratio is the number of ounces of silver it takes to purchase one ounce of gold.
To determine the ratio, you can simply calculate it on your own:
gold-to-silver ratio = price of gold / by price of silver
Here is an example, using today’s market price:
~$1,800 (gold) / ~$20 (silver) = ~90 (ratio)
In the past century, the gold-to-silver ratio has fluctuated wildly and averaged around 50. This means that to reach the average—which will happen—silver will need to be priced at $34.40, and any buyer going into silver today would see a massive return.
3) Rising Demand for Green Energy and Electronics
Global demand for silver is reaching all-time highs as the precious metal is used in many emerging industries such as renewable energy, solar power, and other important green initiatives used to fight climate change.
Silver is also used in the making of mobile phones, which is soaring worldwide as almost everyone depends on one in their daily life. Due to these factors, it is expected that the demand for silver will continue to rise steadily for much of the foreseeable future.
4) Rising Inflation in the US
One of the biggest contributors to the potential rise in the price of silver is inflation. During the Inflation Crisis in the 1970s, the silver spot price per ounce skyrocketed from $12.40 to almost $50 in only 10 years. This was an increase of over 400% in the spot price of the precious metal. Even back in the 1970s, many experts were asking if silver would keep rising and hit $100 an ounce one day — and this is becoming a more realistic scenario today.
If we are staring down another 1970s-level inflation crisis, it could take less than a decade for silver to reach $100 per ounce, if the right factors come into play.
5) Struggling Silver Mining Supply
Although the demand for silver is continuing to rise, the production of silver took a big hit during the pandemic. Many silver were forced to shut down, and most of them are still not back to full working capacity.
And even though new measures have recently been taken to get the many mines back up and running safely, much of the production is still struggling, causing a supply bottleneck. The rising demand coupled with insufficient supply is a tell-tale case for understanding if silver prices could go up.
6) Russian Invasion of Ukraine and Global Political Instability
Russia contributes significantly to the world’s precious metal supply — roughly 2.6% of the world’s silver supply, 15.1% of platinum, 9.2% of gold, and an astonishing 45.6% of the world’s palladium supply. As their supply has now been completely cut off from the US, it is likely the silver price will rise.
Additionally, Taiwan considers itself an independent nation, while China claims Taiwan is a part of its nation state. If this tension escalates between China and Taiwan, we could see an exponential increase in the cost of silver per ounce as political tension would rise rapidly across the globe.
7) Global Supply Chain Challenges
The year 2020 saw a significant change in pretty much everything because of COVID-19. Part of the impact of the pandemic has been the challenge of transporting goods all over the world. Since the global supply chain of silver is no longer able to get the precious metal delivered in the same manner as pre-pandemic, many businesses may need to pay higher prices for silver to meet their production expectations.
How long could it take for silver to hit $100 an ounce?
Will the price of silver hit $100 an ounce soon? The most likely way silver will go up is if a major market correction occurs while the economy is under the effects of soaring inflation in the next 10 years. Growth of this level has already occurred once in recent history, during the 1970s, where the price of silver skyrocketed over the course of one decade.
Here are some key events that, if they take place, could answer the question “Will silver hit $100 an ounce?”
2022 – The US inflation rate runs wild
In an extreme scenario, we could see inflation take the reigns and bring silver prices over the $100 mark. If inflation continues to rise and reaches double-digit values through 2022 and 2023, the price of $100 an ounce for silver could be possible.
Consider that in 2021, we saw inflation rates averaging around 5%, which was the highest rate since 2008. Not only will inflation likely raise the price of silver, but more investors could seek precious metals like silver, which could also drive its price up.
2024 – Mountains of US debt cause huge spikes in interest rates
Even if the Fed figures out how to control our current inflation crisis, the US national debt is still looming over us. In early February of 2022, our national debt crept over $30 trillion for the first time ever. When bondholders push the US to pay higher interest rates, those rate hikes could trickle down to the average American consumer, which could push investors to turn to silver as a defensive asset with high growth potential.
2032 – Investors embrace precious metals over the next 10 years due to an overheated stock market
As the stock market gets more and more overheated and overvalued, investors might be looking for different ways to protect their portfolios from a serious market crash. They’ll specifically look toward defensive assets that have been underperforming compared to other assets over the last 20 or 30 years. That’s where silver comes in. You can also check out our gold price predictions for the next 5 years.
How much has silver price changed in 2022?
So far in 2022, Silver price has changed by approximately -7% since starting 2022 at a price of $22.81. Many experts believe this makes silver currently “cheap” which could further attract increased buying behavior when stimulated by other economical factors such as inflation. Because silver is below 50% of its all-time high, it is possible that we could see the precious metal rebound and outperform the US stock market in the coming years.
Is the price of silver going up?
At the time this article was updated, many analysts believe silver could start to steadily rise over the next year as central banks such as the US Federal Reserve raise interest rates, which may cause investors to turn to silver for it’s growth potential during economic hardship. Always remember that no one, including experts and analysts, can predict the future and past performance is never a guarantee of future returns. You should always do your own research regarding any asset decisions.
When are silver prices going up?
When will silver prices go up? Although the price of silver is below its all-time high, silver prices going up is not out of the question at all. As a matter of fact, this may be a good time to check into silver as the price is below $20 per troy ounce. This could mean that if silver reaches $40 an ounce (almost $10 lower than its all-time high), you could see up to and over a 100% return.
Like this article? Feel free to share it with the buttons below!
What is the best way learn more about silver?
Do you want to know more about how you can acquire silver to diversify your savings? Contact one of our precious metals specialists today. They are standing by to assist you in acquiring silver for your Precious Metals IRA or direct purchase. Call us today at (888) 734-7453, and don’t forget to ask how you can get a copy of the 2022 Silver Rising Guide to help you determine if silver is the right asset for you.
Get Your Free Silver Guide
You might also like…
Featured article
Is Texas About to Strike “Digital Gold”?
Related articles
Market Insights4 Min ReadThird Bank Collapse Could Trigger Bigger Financial Crisis Than 2008Market Insights7 Min Read9 Reasons Why an Economic Depression May Sweep the US SoonMarket Insights7 Min ReadHere’s Why the Price of Gold Will Go P-A-R-A-B-O-L-I-C
View more
Check out more precious metal price articles…
Will Platinum Hit $5000 an Ounce?
What will gold be worth in 5 years?
Will Palladium Hit $5,000 an Ounce?
Learn everything you need to know about owning gold and how Gold Alliance can help.
Many experts in the space expect silver to perform strongly in the years to come, but don't necessarily see it reaching US$100 or more, especially given the current macroeconomic conditions.
The platform's silver price forecast for 2025 saw silver growing even further to an average price of $27.81 by the end of that year, while its silver price forecast for 2027 has the commodity breaching the $30 price point to trade at an average of $31.83 by mid-November.
Silver prices could touch a 9-year high in 2023 — with a bigger upside than gold. Silver could hit a nine-year high of $30 per ounce this year and become a better performer than gold.
Yes, according to our predictions, the average price of silver (XAG) will be around $28.11 at the end of 2023. In 2024, the average price is expected to reach $31.95. In the next five years (2027), XAG is expected to have an average price of $60.74. The projected price for 2030 is $79.58.
The price could grow within the range of 500%-2500% in ten years. We have a track record supporting this prediction; between 1970-1979, the price grew from $1.70 an ounce to about $50, a 3000% growth in 10 years.
In the long term, you can never lose everything by investing in precious metals. No matter what any of the markets do, your gold and silver will always have intrinsic value. There is a limited supply of these precious metals.
Unlike paper currency and stocks, physical precious metals like gold and silver are resistant to inflation because they derive their value differently than paper currency.
We re-iterate our bullish stance about the silver market. Our silver price target stands strong. This is what we wrote back in February: For 2023, we continue to predict that silver will rise to 28 USD/oz which is a secular breakout level.
The affordability of silver makes it possible for anyone to buy small quantities regularly to build a sizeable portfolio over time. As a result, many experts recommend a precious metal portfolio that ideally consists of 75% gold and 25% silver.
To date, some 1.4 billion kg of silver has been mined throughout human history. However, silver corrodes, and just under half of that silver no longer exists as a metal. Of what has been mined, only 777 million kg still exists.
In total, global investors bought 1.242 billion ounces of silver bullion bars and coins despite worldwide supplies only totaling 1.004 billion ounces. This imbalance is supposed to worsen in 2023 as demand continues to rise and supplies stagnate.
Silver prices could make a run for $50.00 an ounce in the next few years. There are a few factors that make a compelling case for a much higher silver price. The first thing investors need to look at is the valuation of silver relative to gold, i.e., the gold-to-silver ratio.
The answer is yes, based on the current economic conditions and potential market volatility. Investing in precious metals such as gold and silver can help protect your portfolio against inflation and economic uncertainty.
When there is a political or economic disaster, precious metals are traditionally considered a safe haven asset. And there is a reason for that. Precious metals can't be printed like paper money, which makes them a good hedge against economic collapse.
That is because the U.S. dollar would essentially be worthless if it were to collapse in value. In a sense, the price of silver would be infinite if measured in terms of the U.S. dollar!
What to Do Before the Dollar Collapses? Though the U.S. dollar collapsing is unlikely, ways to hedge against it include purchasing the currencies of other nations, investing in mutual funds and ETFs based in other countries, and purchasing the shares of domestic stocks that have large international operations.
Silver Worth More Than Gold: A Historic Perspective
And if we apply this wisdom to the history of precious metals, we may conclude that silver will surpass gold in value at some point. It hasn't happened recently, but it has happened. The most popular example dates back to Ancient Egypt.
The United States Geological Survey estimates there is still a total of 530,000 metric tonnes of silver below ground ready to be mined. Peru has the largest silver reserves in the world, at 93,000 million tonnes, with Australia and Poland close behind.
Silver can be considered a good portfolio diversifier with moderately weak positive correlation to stocks, bonds and commodities. However, gold is considered a more powerful diversifier.
One disadvantage of silver is that it tarnishes easily when exposed to air or moisture. This means that if you're using silver in any form—jewelry or otherwise—it needs to be carefully stored away from these elements to maintain its appearance over time.
Weak return on investment — Although silver bullion may be a good safe-haven asset, it may not perform as well as other investments, such as real estate or even other metals. Mining stocks, especially silver stocks that pay dividends, may also be a better option than silver bullion for some investors.
We have estimated that the ultimately recoverable reserves of silver are in the range 2.7–3.1 million tonne silver at present, of which approximately 1.35–1.46 million tonne have already been mined. The timing estimate range for peak silver production is narrow, in the range 2027–2038, with the best estimate in 2034.
Historically, if the dollar falls in value, silver will rise in the marketplace. However, if the dollar completely collapses, the American currency will be worthless. This outcome will leave silver null and void. If no person or company buys silver, then the value of the metal will decrease as well.
While the real significance of the gold silver ratio is the subject of intense debate, there is a historic relationship between the price of gold and that of silver. In general terms, as the price of gold moves up or down, silver prices will follow.
When interest rates are low, it can increase the attractiveness of holding silver as an investment, as the opportunity cost of holding silver is lower. Conversely, when interest rates are high, investors may be more inclined to hold assets that provide a higher yield, which can put downward pressure on silver prices.
According to the latest long-term forecast, Silver price will hit $40 by the end of 2024 and then $50 by the middle of 2026. Silver will rise to $60 within the year of 2027, $70 in 2029, $80 in 2031, $90 in 2032 and $100 in 2034.
Additionally, demand in the industrial sector is likely to grow amid the electrification of vehicles, 5G technology, and commitment to green infrastructure. Furthermore, physical investment in silver was factored in 2022 to grow at 18%.
995 and the total purchase quantity must be 1 kilo (32.15 troy ounces) or more. Similarly, for sales of silver bars and rounds to warrant reporting, each silver piece needs to possess a fineness of at least . 999 with a total purchase quantity of 1,000 troy ounces or more.
100% pure silver is not currently possible to produce. 999, known as “three nines fine”, is therefore accepted as fine or pure silver, and is the most common type of silver found in investment bullion.
Silver (XAG) might reach $76.75 per ounce by June 2030 if the market conditions improve as expected. According to silver price predictions and forecasts, the precious metal's price will grow to $79.58 per ounce in the last six months of the year.
The price of silver tends to track the performance of the overall stock market and the economy. During economic expansions, silver prices tend to rise along with GDP and markets, while during recessions silver prices generally fall as the economy slows.
The short-term price prediction for silver is set at $16.91/toz by the end of 2019, according to the World Bank. The long-term prediction to 2030 forecasts a significant drop in the commodity's price, reaching $13.42/toz by then.
Investopedia contributors come from a range of backgrounds, and over 24 years there have been thousands of expert writers and editors who have contributed. Warren Buffett does not invest in gold. He has invested almost $1 billion in silver, so the reason for his aversion is not simply a dislike for precious metals.
Silver coins issued until 1964 were made with 90% silver content. These coins were Half Dollars, Quarters and Dimes as well as Silver Dollars until 1935.
in both early 1980 and the early spring of 2011 the fiat US dollar price per troy ounce of silver was around $50 oz USD. You can learn more about those two specific silver price highs here.
Silver will reach $100 per ounce the quickest if inflation approaches double digits in 2022 and 2023. The inflation rate is expected to be around 5% in 2021. Since 2008, this has been the most remarkable rate of inflation.
Older 90 Percent Silver Coins Are Worth at Least Their Face Value. All silver half-dollars, quarters, and dimes made between the 1830s and just prior to 1965 are, at a minimum, 90 percent silver. These coins are often referred to as “junk silver,” but they're hardly junk when it comes to their value.
Silver (XAG) might reach $76.75 per ounce by June 2030 if the market conditions improve as expected. According to silver price predictions and forecasts, the precious metal's price will grow to $79.58 per ounce in the last six months of the year.
Despite volatile markets with even gold having negative returns during this time. However, silver has climbed up to $50 per ounce, in 1980 and 2011. The first price run up in 1980 was caused by the concerted buying, both in futures and physical metal by interests associated with the Hunt Brothers from Texas.
Silver supply is expected to rise by 4 percent in 2023 to a new high of 1.055 billion ounces, which will be a new high, fueled by higher mine output. Silver mine production is expected to rise by 5 percent in 2023 to 873 Moz, the highest level since 2016.
The fastest way that silver can get to $100 an ounce is if inflation hits double-digit levels in 2022 and 2023. In 2021, the year-over-year inflation rate is about 9.75%. This is the highest rate of inflation in 40 years.
Basically, Silver's future is an alternate timeline that is set two hundred years into the future of Sonic's universe, but so far the only location that has been shown is the future earth.
A Kitco News' online survey showed gold could top out at a record $2,100 an ounce in 2023, and silver could jump more than 50% to reach $38 an ounce this year.
Market analysts currently predict that silver will soon price higher than gold. As consumer confidence increases after the Covid-19 lockdown protocols, silver consumption is expected to be sky high. Right now, the coming months will be the best time to sell your silver to maximize your profit.
Address: Apt. 536 6162 Reichel Greens, Port Zackaryside, CT 22682-9804
Phone: +9958384818317
Job: IT Representative
Hobby: Scrapbooking, Hiking, Hunting, Kite flying, Blacksmithing, Video gaming, Foraging
Introduction: My name is Jamar Nader, I am a fine, shiny, colorful, bright, nice, perfect, curious person who loves writing and wants to share my knowledge and understanding with you.
We notice you're using an ad blocker
Without advertising income, we can't keep making this site awesome for you.
