Bullish Scenario for Silver Prices: In Pursuit of Records!

Global Geopolitical Risks and the Silver Market

The increasing global geopolitical risks have accelerated investors' search for safe havens. In this context, silver prices are hovering close to historic highs. On Monday, silver set a record at $117.69 per ounce and is currently trading near these high levels.

Strong Performance of Silver Throughout the Year

Since the beginning of 2023, spot silver has gained approximately 60 percent in value, reaching $112.61/ounce with a rise of about 4 percent as of 13:20. This strong price increase stands out as a significant development drawing investors' attention.

OCBC Bank's Passive Bull Market Analysis

OCBC Group Research, the research unit of Singapore-based OCBC Bank, published an important report on the silver market. The report emphasized that silver has entered a structural bull market until 2026. OCBC FX strategist Christopher Wong noted that tightening physical supply balances, strong industrial demand, and supportive macroeconomic conditions are driving prices higher.

Factors Contributing to Price Increases

Wong pointed out that regulatory developments in China, the limited flexibility of supply, and stronger-than-expected momentum in industrial demand are accelerating the rallying structure of silver prices. In this context, a medium-term bullish outlook has been confirmed. As a result, OCBC has raised its silver price forecast for the first quarter of 2026 from $76/ounce to $117/ounce.