Silver Institute: Market Heading for Sixth Straight Deficit in 2026

2026-02-16 16:55:00 ET

Silver surged past US$100 per ounce for the first time in January before retreating below the US$80 level, marking a volatile start to 2026 as the precious metal faces renewed investor appeal.

In its latest annual outlook , published on February 10, the Silver Institute notes that the rally comes after a year when silver saw its strongest annual performance since 1979. Investor interest accelerated into early 2026 and pushed prices to multiple record highs, driving the gold-silver ratio below 50 for the first time since 2012.

Looking forward, global silver investment is expected to remain strong this year as the market posts its sixth consecutive annual deficit. The forecast, based on analysis by London-based consultancy Metals Focus, points to a 67 million ounce shortfall in 2026, with total demand once again outstripping total supply.

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