The factors responsible for the price increase remain in place. On the one hand, this is the supply and demand side, which should support the price. On the other hand, supply in London is tight, political uncertainties in the US remain, and geopolitical crises are present. A further deficit is expected in the current year. The Silver Institute expects global silver demand to remain constant in 2026. Even if demand from the jewelry industry and for silverware weakens, strong investments by private investors should easily offset this.

Industrial demand for silver is expected to decline by 2 per cent. Although the photovoltaic sector is growing, silver, which has become expensive, is being partially replaced by other materials. However, there is rising demand for the precious metal from data centres, artificial intelligence and the automotive industry. The Silver Institute forecasts a whopping 20 percent increase in physical investment, bringing it to a three-year high. This is attributed to the exceptional price development of silver and the current uncertainty among investors. Physical investment is expected to grow in the West and also in India.

On the supply side, global production is expected to increase by 1.5 percent to 820 million ounces of silver. In contrast, a deficit of 67 million ounces is expected in 2026. Global ETP stocks are high (1.31 billion ounces) and demand for bars and coins is strong. Investments in silver companies should therefore be auspicious.

Endeavour Silver – https://www.commodity-tv.com/ondemand/companies/profil/endeavour-silver-corp/ – owns three producing mines. The company’s projects are located in Mexico and Peru. For 2026, the company forecasts production of 14.6 to 15.6 million ounces of silver equivalent.

As a royalty company, Vizsla Royalties – https://www.commodity-tv.com/ondemand/companies/profil/vizsla-royalties-corp/ – offers corporate diversification and owns two NSR royalties. One is a 2% interest in the Panuco property in Mexico, which is a primary, high-grade silver resource. The other is a 3.5% interest in the Silverstone concessions.

Current company information and press releases from Vizsla Royalties (- https://www.resource-capital.ch/en/companies/mag-silver-corp/ -) and Endeavour Silver (- https://www.resource-capital.ch/en/companies/endeavour-silver-corp/ -)

Further information is also available in our new precious metals report at the following link: https://www.resource-capital.ch/en/reports/view/precious-metals-report-2025-11-update/

Sources:

https://silverinstitute.org/global-silver-investment-to-remain-strong-in-2026-against-the-backdrop-of-a-sixth-consecutive-annual-market-deficit/;

https://www.resource-capital.ch/en/reports/view/precious-metals-report-2025-11-update/

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