3 predictions about silver prices in the next decade

Compared to gold, silver is often overlooked. While silver may lack gold’s staggering price per ounce — the price of gold climbed to over $5,100 in early March — it can be a smart investment. Its lower price tag makes it more accessible for everyday investors, and it has experienced significant gains in recent years.

What’s next for silver prices? Here’s what is driving silver’s value changes and how it could perform in the future.

What drives silver prices?
At the beginning of 2025, silver’s price was about $30. By the beginning of 2026, the price had more than doubled, reaching $79. With such a steep increase, many investors are giving silver another look. But before you put your money into silver, it’s important to understand what factors affect its cost per ounce:

Inflation
When it comes to precious metals, inflation is one of the biggest drivers behind price. When the value of the U.S. dollar declines, investors often put their cash into physical assets like silver or gold to hedge against inflation.

Silver’s price tends to increase during periods of higher-than-usual inflation. For example, in 2019, inflation was under 2%. During that time, silver’s price was about $15 per ounce. In 2022, when inflation reached 9.1%, silver’s price was about $23 per ounce, an increase of 23% in three years.

Interest rates
When central banks like the Federal Reserve raise rates, banks tend to increase the annual percentage yields (APYs) on savings accounts, certificates of deposit (CDs), and other deposit accounts. As a result, investors put more of their money into bonds and other interest-yielding assets rather than into assets like silver, which don’t pay interest.