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Commerzbank cuts silver forecast but still sees higher prices ahead
The German bank expects silver to average USD 67 by year-end and reach USD 80 by end-2027, citing ongoing deficits despite substitution in solar and Indian import curbs.
Commerzbank lowered its silver price outlook after the metal slid from USD 70 to USD 57.50 per troy ounce, according to a note cited by FXStreet. The bank now targets USD 67 for silver by the end of this year and USD 80 by end-2027.
The downgrade still leaves room for upside, with Commerzbank pointing to persistent market deficits as a key support for prices. The bank also expects gold to recover, which it says could help underpin silver.
FXStreet also highlighted that forecasts factoring in solar substitution and Indian import curbs have not changed the view that deficits remain material. The note suggests silver has downside risk in the near term, but deficit conditions are expected to provide a floor as the outlook extends into 2027.
Latest closeGold $4,023.80 ▼1.2%|Silver $57.33 ▼2.0%