Silver's spot price has fallen 17% over the past month to about $54 per troy ounce, after hitting a record $121.67 on January 29, 2026. This year, inflation led many industrial manufacturers, especially solar panel makers, to cut spending and shift to less silver or copper, while the Fed held rates steady for most of the year before raising them in September for the first time in three years, strengthening the U.S. dollar. According to the Silver Institute and Metals Focus, the supply deficit could widen from 40.3 million ounces in 2025 to 46.3 million ounces in 2026, the sixth straight year of shortfall. About 74% of silver is produced as a byproduct of mining lead, zinc, copper and gold, which limits how quickly output can rise. JPMorgan sees silver at $63 and UBS at $70 by the end of 2026.
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Related tickers and likely impact
PAXG/USDT
▼ Likely negativePAX Gold
Relevance: low
| Market | Crypto |
|---|---|
| Exchange | Binance |
| Sector | Real-world assets |
| Market cap | $1.8B |
| Close on 10/25/2026 | 4,010.98 |
| Change that session | +0.17% |
XAUT/USDT
▼ Likely negativeTether Gold
Relevance: low
| Market | Crypto |
|---|---|
| Exchange | Binance |
| Sector | Real-world assets |
| Market cap | $3.2B |
| Close on 10/25/2026 | 3,999.80 |
| Change that session | +0.14% |
XAU/USD
▼ Likely negativeRelevance: low
| Market | Gold |
|---|---|
| Close on 10/23/2026 | 3,995.78 |
| Change that session | -0.72% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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