In light of persistent tightness in global supply and a weakening US dollar, HSBC Holdings PLC issued a research report on Thursday, significantly raising its silver price forecasts for 2026 and 2027. The report noted that despite increased market volatility, silver is expected to remain at relatively elevated levels over the next several years.

According to HSBC's latest projections, the average silver price for 2026 is now anticipated to reach $75 per ounce, substantially higher than the previous forecast of $68.25. Concurrently, the bank has revised its 2027 price expectation upward from $57 per ounce to $68 per ounce. Furthermore, HSBC has also adjusted its longer-term price targets, estimating average prices of $59 per ounce for 2028 and $52 per ounce for 2029.