Silver price targets in USD – Major Banks (updated 21 August 2026).
• BANK OF AMERICA: $85.93 full-year average baseline target with a tactical Q4 target above $100.00 (preserving a $135.00 to $309.00 tail-risk bull range built on gold-to-silver ratio compression).
• UBS: $80.00 per ounce year-end target, with a full-year average forecast of $65.00.
• J.P. MORGAN: $85.00 per ounce fourth-quarter target high, with a full-year average forecast of $81.00 (and a downside tail-risk warning to $50.00).
• GOLDMAN SACHS: $85.00 to $100.00 per ounce full-year average target range.
• CITIGROUP: $110.00 per ounce second-half target (maintaining a $110.00 to $150.00 medium-term range).
• ING: $74.00 per ounce fourth-quarter target, with a revised full-year average forecast of $75.00.
• HSBC: $75.00 per ounce full-year average forecast (with a $68.00 average expectation for 2027).
• COMMERZBANK: $67.00 per ounce year-end target (tactical revision), holding a long-term bull target of $90.00.
• BMO CAPITAL MARKETS: $74.50 per ounce full-year average baseline ($70.60 Q3 average / $68.10 Q4 average), while retaining a $160.00 Q4 bull case based on gold-to-silver ratio compression.
• TD SECURITIES: $118.00 per ounce peak call target, with a deep-bear full-year average baseline of $44.00.
• CIBC: ~$105.00 per ounce year-end target (retained with tactical trimming).
• SCOTIABANK: $65.00 per ounce full-year average target.
• ROYAL BANK OF CANADA: Outperform rating maintained (highlighting a $75.00 central recovery band extending into 2027).
• BNP PARIBAS: ~$100.00 per ounce year-end target.
• BAIN COMMODITIES: $85.00 per ounce peak target, with an annual average baseline near $63.50.
Silver was trading around $69.65 as of 12pm Friday.
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