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- WORLD EDITIONAustraliaNorth AmericaWorld
September 29, 2025
Mercado Minerals Ltd. (CSE: MERC) (“Mercado” or the “Company”) is pleased to announce it has signed and executed a definitive share purchase agreement (the “Agreement”), dated September 26, 2025, to acquire (the “Acquisition”) all of the outstanding share capital of Concordia Silver Company S.A. DE C.V. (“Concordia”). The Acquisition includes two silver - gold mineral properties held by Concordia, Copalito and Zamora, located in Sinaloa, Mexico.
Daniel Rodriguez, CEO and Director of Mercado, commented, “This is an important development for Mercado, as we continue to expand our project portfolio. Our due diligence reviewing the assets in Concordia leaves us to believe we have lots of exploration upside. I look forward to working with our team in Mexico as we advance Copalito and Zamora.”
Under the terms of the Agreement, Mercado will acquire all of the outstanding share capital of Concordia in consideration for a cash payment US$105,000 and the issuance of 6,000,000 common shares (the “Consideration Shares”) to Concordia shareholders (collectively, the “Vendors”). Mercado will issue a further 2,000,000 common shares to the Vendors on the first anniversary of closing the Acquisition and a further 2,000,000 common shares to the Vendors on the second anniversary of closing the Acquisition. The Considerations Shares will be subject to restrictions on resale following issuance from which they will be release in four equal tranches every six months over a twenty-four month period.
The Company is at arms-length from Concordia and the Vendors. In connection with closing of the Acquisition, a finders’ fee of 300,000 common shares is due and owing to an arm’s-length party who introduced Concordia. No changes to the board or management of the Company are contemplated in connection with the Acquisition. Completion of the Acquisition remains subject to completion of customary closing deliverables. The Acquisition is not expected to constitute a fundamental change for the Company nor will it result in a change of control of the Company (within the meaning of applicable securities laws and the policies of the Canadian Securities Exchange).
For further information concerning the Acquisition, readers can review the news releases issued by the Company on June 11, 2025, and July 28, 2025.
About Mercado Minerals Ltd.
Mercado Minerals Ltd. (CSE: MERC) is a company involved in the business of acquiring and exploring mineral properties in the Americas. Mercado has been primarily involved in the exploration and evaluation of the Porter Property, located within the Alberni Mining Divisions of British Columbia.
For further information, contact:
Daniel Rodriguez
CEO & Director
Phone: (604) 353-4080
Email: drodriguez@mercadominerals.com
John Fraser
VP Business Development & Director
Phone: (604) 838-7677
Email: jfraser@mercadominerals.com
Forward-Looking Statement (Safe Harbor Statement):
This press release contains forward-looking statements within the meaning of applicable securities laws. The use of any of the words "anticipate," "plan," "continue," "expect," "estimate," "objective," "may," "will," "project," "should," "predict," "potential" and similar expressions are intended to identify forward-looking statements. In particular, this press release contains forward-looking statements concerning the Company’s exploration plans. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on these statements because the Company cannot provide assurance that they will prove correct. Forward-looking statements involve inherent risks and uncertainties, and actual results may differ materially from those anticipated. Factors that could cause actual results to differ include conditions in equity financing markets, and receipt of regulatory and shareholder approvals. These forward-looking statements are made as of the date of this press release, and, except as required by law, the Company disclaims any intent or obligation to update publicly any forward-looking statements.
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
MERC:CNX
1h
Silver Price Surges Above US$47, Approaches All-time High
The silver price surged on Monday (September 29), breaking US$47 per ounce.
The white metal last reached this level in 2011, the same year it nearly hit US$50 for only the second time in history. Silver's first run to the US$50 level came in 1980, when the Hunt brothers attempted to corner the market.
Silver price chart, December 31, 2024, to September 29, 2025.
Chart via the Investing News Network.
Known for lagging behind gold before outperforming, silver is now ahead of its sister metal in terms of percentage gains — it's up more than 55 percent year-to-date, while gold has risen around 44 percent.
Still, silver remains below its all-time high, while gold continues to set new records — it surged past US$3,800 per ounce on Monday, reaching a new milestone on the back of concerns about a US government shutdown.
Gold is also seeing underlying support from strong central bank buying, global geopolitical uncertainty, concerns about the US dollar and other fiat currencies and expectations of lower interest rates.
Silver acts as both a precious and industrial metal, meaning that it's driven by many of the same factors as gold, but also has additional sources of demand. According to the Silver Institute, industrial demand for silver reached a record 680.5 million ounces in 2024, driven by usage in grid infrastructure, vehicle electrification and photovoltaics.
Total silver demand was down 3 percent year-on-year in 2024, but still exceeded supply for the fourth year in a row, resulting in a deficit of 148.9 million ounces for the year.
Watch five experts share their thoughts on the outlook for silver.
As silver gets closer to surpassing its all-time high, investors are wondering about its long-term prospects.
While many experts have lofty expectations for silver, including triple-digit price predictions, there's a broad consensus that the white metal may correct before continuing on upward.
However, there's also recognition that silver's situation today is different than it was previously.
"If you have something happen with the supply, and then on top of that at some point you're running into issues with debt loads and currencies, that would certainly leave us probably into a much different environment for silver than either 1980 or 2011," said Chris Marcus, founder of Arcadia Economics.
Don't forget to follow us @INN_Resource for real-time updates!
Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.
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25 September
What are Silver Futures?
Investing in silver futures is one of many options for those interested in entering the silver market.
The highest price for silver to date was reached half a century ago, when the precious metal hit US$48.70 per ounce. With the silver price hitting US$44 per ounce following the US Federal Reserve's September 2025 rate cut, investors are wondering if the white metal will it break past its record. Some silver bulls believe that could happen in the near future, with a few market insiders even calling for a triple-digit silver price.
Trading silver futures is not the same as owning physical bullion, but it’s a popular strategy for advanced investors with a higher risk tolerance. Read on to learn more about how silver futures work and what role they can play in a portfolio.
What are silver futures?
Silver futures trading involves an agreement between a buyer and a seller in which physical silver will be bought by the buyer and delivered by the seller for a fixed price at a date set in the future.
Most traders (especially short-term traders) aren’t concerned about delivery when it comes to silver futures — they typically use cash to settle their long or short positions before they expire or defer them to the next available delivery month. Overall, very few silver futures contracts traded each year actually result in the delivery of the underlying commodity.
What exchanges are silver futures traded on?
Silver futures can be traded on various global exchanges, but the COMEX is a common option. The COMEX is one of four exchanges that make up CME Group, which bills itself as the world’s leading derivatives marketplace.
On the COMEX, monthly silver futures contracts are listed for the current calendar month or the following two calendar months, plus any January, March, May or September within a 23 month period. July and December are also included should they fall within a 60 month period, beginning with the current month. The material offered must assay to a minimum of 999 fineness.
According to Investopedia, silver futures on the COMEX are quoted in US dollars per troy ounce and are traded in units of various sizes, ranging from 1,000 (known as micro contracts) to 2,500 (E-mini contracts) to 5,000 (full contracts) troy ounces. For example, a price quote of US$24 for 5,000 troy ounces would cost approximately US$120,000.
In the case of a full contract, investors who wait for their silver futures to mature will either receive or deliver a 5,000 troy ounce COMEX silver warrant for a full-sized silver future, depending on if they are the buyer or the seller. One warrant entitles the holder to ownership of equivalent bars of silver in designated depositories, such as with the The Brink's Co (NYSE:BCO), HSBC Holdings (NYSE:HSBC, LSE:HSBA), Manfra Tordella & Brookes, Delaware Depository and JPMorgan Chase & Co. (NYSE:JPM).
The COMEX settlement process is different for smaller silver futures contracts.
Silver futures are also traded electronically on the Indian National Commodity & Derivatives Exchange (NCDEX), the Dubai Gold & Commodities Exchange (DGCX), the Multi Commodity Exchange of India (MCX) and the Tokyo Commodity Exchange (TOCOM).
Why invest in silver futures?
Silver typically follows in the footsteps of gold and is considered a safe-haven asset. Investors tend to flock to precious metals in times of turmoil, which bumps up demand, and if gold is too expensive, silver is a cheaper option.
Futures offer a limit on potential losses to buyers, which attracts those interested in hedging. Hedgers such as producers, portfolio managers and consumers often use futures to mitigate price risk — their goal is to protect themselves from inflation and to reap the rewards of favorable price movements. On the flip side, speculative investors can use silver futures to gain exposure to the white metal while only putting up a fraction of the total cost for a contract.
Of course, silver has equal potential to suffer large losses in the futures market — due to the leverage involved, investors can lose funds in their accounts quickly. For that reason, experts often encourage inexperienced market participants to avoid the futures market until they have a good idea of their desired risk profile, time horizon and cost considerations.
This is an updated version of an article first published by the Investing News Network in 2016.
Don’t forget to follow us @INN_Resource for real-time news updates!
Securities Disclosure: I, Melissa Pistilli, hold no direct investment interest in any company mentioned in this article.
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24 September
Chris Marcus: Silver Price Breakout? What's Happening, What's Next
Chris Marcus, founder of Arcadia Economics, discusses silver's recent price activity and where the white metal could be headed next.
He also weighs in on supply and demand dynamics, as well as the question of price suppression.
Don't forget to follow us @INN_Resource for real-time updates!
Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.
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24 September
GR Silver Mining
GR Silver Mining Ltd. is a Mexico-focused company engaged in cost-effective silver-gold resource expansion on its key assets which lie on the eastern edge of the Rosario Mining District.
24 September
Could the Silver Price Really Hit $100 per Ounce?
Will the First Majestic Silver (TSX:FR,NYSE:AG) CEO’s silver price prediction of over US$100 per ounce come true?
The silver spot price has surged over 50 percent in the first nine months of 2025, reaching a 14 year high above US$44 on September 22 after breaking through the US$40 per ounce mark in early September. Silver's price is rallying on growing economic uncertainty amid ongoing geopolitical tensions and US President Donald Trump’s escalating trade war, supported by long-term demand fundamentals.
Well-known figure Keith Neumeyer, CEO of First Majestic, has frequently said he believes the white metal could climb even further, hitting the US$100 mark or even reaching as high as US$130 per ounce.
Neumeyer has voiced this opinion often over the past decade. He put up a US$130 price target in a November 2017 interview with Palisade Radio, when silver was just US$17, and he also discussed it in an August 2022 interview with Wall Street Silver. He has reiterated his triple-digit silver price forecast in multiple interviews with Kitco over the years, including one in March 2023.
In 2024, Neumeyer made his US$100 silver call in a conversation with ITM Trading’s Daniela Cambone at the Prospectors & Developers Association of Canada (PDAC) convention, and in April of that year he acknowledged his reputation as the "triple-digit silver guy" on the Todd Ault Podcast.
At times he’s been even bolder, suggesting in 2016 that silver could reach US$1,000 if gold were to hit US$10,000. More recently, he has pushed his expected timeline for US$100 silver back, but he remains very bullish in the long term.
In order to better understand where Neumeyer’s opinion comes from and whether a triple-digit silver price is really in the cards, it’s important to take a look at the factors that affect the metal’s movements, as well as where prices have been in the past and where other industry insiders think silver could be headed.
First, let’s dive a little deeper into Neumeyer’s US$100 silver prediction.
In this article
Why is Neumeyer calling for a US$100 silver price?
Neumeyer believes silver could hit US$100 due to a variety of factors, including its consistent deficit, its industrial demand and how undervalued it is compared to gold.
There’s a significant distance for silver to go before it reaches the success Neumeyer has boldly predicted. In order for the metal to jump to the US$100 mark from US$44, its price would have to increase by around 125 percent. However, silver has already jumped by nearly 160 percent from its price of around US$17 per ounce when he made his US$130 call in November 2017.
Neumeyer has previously said he expects a triple-digit silver price in part because he believed the market cycle could be compared to the year 2000, when investors were sailing high on the dot-com bubble and the mining sector was down. He thinks it’s only a matter of time before the market corrects, like it did in 2001 and 2002, and commodities see a big rebound in pricing. It was during 2000 that Neumeyer himself invested heavily in mining stocks and came out on top.
“I’ve been calling for triple-digit silver for a few years now, and I’m more enthused now,” Neumeyer said at an event in January 2020, noting that there are multiple factors behind his reasoning. “But I’m cautiously enthused because, you know, I thought it would have happened sooner than it currently is happening.”
In an August 2022 with Wall Street Silver, he reiterated his support for triple-digit silver and said he's not alone in this optimistic view — in fact, he's been surpassed in that optimism. "I actually saw someone the other day call for US$500 silver," he said. "I'm not quite sure I'm at the level. Give me US$50 first and we'll see what happens after that."
Another factor driving Neumeyer's position is his belief that the silver market is in a deficit. In a May 2021 interview, when presented with supply-side data from the Silver Institute indicating the biggest surplus in silver market history, Neumeyer was blunt in his skepticism. “I think these numbers are made up,” he said. “I wouldn’t trust them at all.”
He pointed out that subtracting net investments in silver exchange-traded products leaves the market in a deficit, and also questioned the methodology behind the institute’s recycling data given that most recycled silver metal comes from privately owned smelters and refineries that typically don’t make those figures public.
"I'm guessing the mining sector produced something in the order of 800, maybe 825 million ounces in 2022," Neumeyer said when giving a Q4 2022 overview for his company. "Consumption numbers look like they're somewhere between 1.2 and 1.4 billion ounces. That's due to all the great technologies, all the newfangled gadgets that we're consuming. Electric vehicles, solar panels, windmills, you name it. All these technologies require silver ... that's a pretty big (supply) deficit."
In a December 2023 interview with Kitco, Neumeyer stressed that silver is more than just a poor man's gold and he spoke to silver's important role in electric vehicles and solar cells. In line with this view on silver, First Majestic is a member of a consortium of silver producers that in January 2024 sent a letter to the Canadian government urging that silver be recognized as a critical mineral. Silver's inclusion on the list would allow silver producers to accelerate the development of strategic projects with financial and administrative assistance from the government.
In this 2024 PDAC interview, Neumeyer once again highlighted this sizable imbalance in the silver’s supply-demand picture. “We’re six years into this deficit. The deficit in 2024 looks like it’s gonna be bigger than 2023, and why is that? Because miners aren’t producing enough silver for the needs of the human race,” he said.
More controversially, Neumeyer is of the opinion that the white metal will eventually become uncoupled from its sister metal gold, and should be seen as a strategic metal due to its necessity in many everyday appliances, from computers to electronics, as well as the technologies mentioned above. He has also stated that silver production has gone down in recent years, meaning that contrary to popular belief, he believes the metal is actually a rare commodity.
Neumeyer's March 2023 triple-digit silver call was a long-term call, and he explained that while he believed gold would break US$3,000 that year, he thought silver will only reach US$30. However, once the gold-silver ratio is that unbalanced, he believes that silver will begin to take off, and it would just need a catalyst.
"It could be Elon Musk taking a position in the silver space," Neumeyer said. "There's going to be a catalyst at some time, and headlines in the Wall Street Journal might talk about the silver supply deficit … I don't know what the catalyst will be, but investors and institutions will wake up to the fundamentals of the metal, and that's when it will start to move."
In an August 2023 interview with SilverNews, Neumeyer said banks are holding the silver market down. He pointed to the paper market for the metal, which he said the banks have capped at US$30 even in times of high buying.
"If you want to go and buy 100 billion ounces of (paper) silver, you might not even move the price, because some bank just writes you a contract that says (you own that)," he noted, saying banks are willing to get short because once buying stops, they push the price down to get the investors out of the market and buy the silver back. "... If the miners started pulling their metal out of the current system, then all of a sudden the banks wouldn't know if they're going to get the metal or not, so they wouldn't be taking the same risks they're taking today in the paper markets."
The month after the interview, his company First Majestic launched its own minting facility, named First Mint.
In 2024, gold experienced a resurgence in investor attention as the potential for Fed rate cuts came into view. In an interview with Cambone at PDAC 2024, Neumeyer countered that perception, stating, “There’s a rush into gold because of the de-dollarization of the world. It has nothing to do with the interest rates.”
In an April 2025 Money Metals podcast, Neumeyer reiterated his belief that silver is in an extreme supply deficit and that eventually silver prices will have to rise in order to incentivize silver miners to dig up more of the metal.
"You need triple digit silver just to motivate the mining companies to start investing again because the mining companies aren't going to make the investment because there's just so much risk in it," he said.
Several market analysts have raised concerns about this silver supply deficit.
In a March Investing News Network (INN) interview, Dana Samuelson, president of American Gold Exchange, explained that silver is particularly vulnerable to a supply shock as London Bullion Market Association's physical silver supplies have decreased by 30 to 40 percent, while gold has only lost 3 to 4 percent.
Moreover, in April at the Sprott Silver Conference, Maria Smirnova, senior portfolio manager and chief investment officer at Sprott Asset Management, highlighted the deficit as well.
Smirnova explained that silver has been in a supply deficit of 150 million ounces to 200 million ounces annually (or 10 percent to 20 percent of total supply), while production has been stagnant or declining over the past decade. She emphasized that above-ground inventories have declined by nearly 500 million ounces in recent years.
What factors affect the silver price?
In order to glean a better understanding of the precious metal’s chances of trading around the US$100 range, it’s important to examine the elements that could push it to that level or pull it further away.
The strength of the US dollar and US Federal Reserve interest rate changes are factors that will continue to affect the precious metal, as are geopolitical issues and supply and demand dynamics.
Although Neumeyer believes that the ties that bind silver to gold need to be broken, the reality is that most of the same factors that shape the price of gold also move silver.
For that reason, it’s helpful to look at gold price drivers when trying to understand silver’s price action. Silver is, of course, the more volatile of the two precious metals, but nevertheless it often trades in relative tandem with gold.
First, it's useful to understand that higher interest rates are generally negative for gold and silver, while lower rates tend to be positive. That's because when rates are higher, investment demand shifts to products that can accrue interest.
When the COVID-19 pandemic hit, the Fed cut rates down to zero from 1 to 1.25 percent. However, rising inflation led the Fed and other central banks to hike rates, which negatively impacted gold and silver. In February 2023, the Fed raised rates by just 25 basis points, the smallest hike since March 2022, as Chair Jerome Powell said the process of disinflation has begun. The Fed continued these small rate hikes over the next year with the last in July 2023.
The Fed's rate moves are currently playing a key role in pumping up silver prices. In early July 2024, as analysts factored in the rising potential for interest rate cuts in the remainder of 2024, silver prices were once again testing May's nearly 12 year high, and they topped US$31 in September in the days leading up to the anticipated first rate cut.
Heading into September of this year, the silver price was testing 14 year highs as market watchers expected the first rate cuts on the part of the Fed since it paused its interest rate moves in November 2024. The Fed chose to cut rates at the meeting, and silver and gold have both climbed even further in the week following the decision.
While central bank actions are important for gold, and by extension silver, another key price driver lately has been geopolitical uncertainty. The past few years have been filled with major geopolitical events such as tensions between the US and other countries such as North Korea, China and Iran. The huge economic impact of the COVID-19 pandemic, the banking crisis in early 2023, Russia's ongoing war with Ukraine, and rising tensions in the Middle East brought about by the Israel-Hamas war have been sources of concern for investors.
Trump's tariffs have also rattled stock markets and ratcheted up the level of economic uncertainty pervading the landscape in 2025. This has proved price positive for gold, bringing silver along for the ride.
However, silver's industrial side can not be ignored. In the current environment, the industrial case of silver is weakening in the short term; but longer term still holds some prospects for larger gains.
Higher industrial demand from emerging sectors due to factors like the transition to renewable energy and the emergence of AI technology will be highly supportive for the metal over the next few years. Solar panels are an especially exciting sector as manufacturers have found increasing the silver content increases energy efficiency.
“Even in the US, the policy really is 'all of the above' — all forms of energy. So I’m not concerned about solar cells diminishing. Could they go flat? Yeah, that’s fine. Flat at 300 million ounces? That’s great demand for silver,” said former Hecla Mining (NYSE:HL) CEO Phil Baker during a May webinar hosted by Simon Catt of Arlington Group.
“(Prime Minister Narendra) Modi made a policy decision a year ago to grow the solar industry in India. So in India, only about 10 percent of their demand for silver is used for industrial purposes. In China, it’s 90 percent, and so what you’re going to have in India is you’re going to see their solar panel growth skyrocket,” he added.
Could silver hit US$100 per ounce?
While we can't know if we'll reach a $100 per ounce silver price in the near future, there is support for Neumeyer’s belief that the metal is undervalued and that “ideal conditions are present for silver prices to rise.”
Many are on board with Neumeyer in the idea that silver's prospects are bright, including Gary Savage, president of the Smart Money Tracker Newsletter, who stated during a May 2025 interview with INN that "US$100 is going to be a piece of cake" for silver. He also stated he believes "US$500 is likely sometime ... maybe in three or four years."
So, if the silver price does rise further, can it go that high?
Let’s look at silver’s recent history. The highest price for silver was just under US$50 in the 1970s, and it came close to that level again in 2011. The commodity’s price uptick came on the back of very strong silver investment demand. While it has yet to reach these levels again, the silver price has increased significantly in recent years.
After spending the latter half of the 2010s in the teens, the 2020s have seen silver largely hold above US$20.
In August 2020, the price of silver reached nearly US$28.50 before pulling back again, and moved back up near those heights in February 2021. The price of silver saw a 2022 high point of US$26.46 in February, and passed US$26 again in both May and November 2023. Silver rallied in the later part of the first quarter of 2024, and by April 12 was once again flirting with the US$30 mark as it reached an 11 year high of US$29.26. Despite pulling back to the US$26 level soon after, by October 22 the price of silver had a nice run in the lead up to the election, rising up to US$34.80.
However, a stronger dollar and signs that the Fed might not be so quick to cut interest rates as deeply as expected were seen as price negative for silver. It was in a downward slide for much of the remainder of the year.
For much of the first half of 2025, silver has followed gold higher on factors including persistent inflationary pressures brought on by Trump’s aggressive tariff announcements and the ongoing geopolitical risks in the Middle East.
On September 22, 2025, the price of silver had reached a 14 year high of US$44.11, up over 50 percent since the beginning of the year.
What do other experts think about US$100 silver?
As silver's trajectory continues upwards, some silver market experts are agreeing with Neumeyer's triple-digit silver hypothesis, or at least that the price of silver still has further room to grow.
Willem Middelkoop of Commodity Discovery Fund told INN on the sidelines of PDAC that he believes silver could easily reach US$100 sometime over the next decade, advising investors to include physical silver in their portfolio.
"One day the market will run, and if you're not in, you won't win it," Middelkoop said.
Substack newsletter writer John Rubino sees the silver supply deficit as not only an issue for the industrial sector, but for the COMEX futures markets as well, which could spark a major rally in the silver price.
"There should be upward price pressure on silver, as the deficit continues and maybe turns into a shortage,” Rubino told INN in a May interview. “We're using up the previously existing silver, and that means there's just less of it around for the COMEX to satisfy futures contracts who show up and want to turn their contract into silver.”
Rubino explained that there is real danger in an exchange defaulting on delivering physical metal to futures contract traders and needing to pay cash instead. This scenario is likely to trigger panic buying.
He added that he would be shocked if silver didn’t reach US$100 an ounce “somewhere along the way, and it's possible that much higher prices could happen when the panic buying starts.”
Frank Holmes of US Global Investors (NASDAQ:GROW) told INN in a June interview that he thinks the price of silver could “easily go to US$100” given that silver supply has been running a deficit for many years now at a time when the world is transitioning toward increased electrification. In particular, he cited solar sector demand.
INN also spoke with Mani Alkhafaji, First Majestic's vice president of corporate of development and investor relations, to get his thoughts on silver. In a July interview at the Rule Symposium, he shared why he believes there’s a statistical argument for silver to reach US$70 at some point in the future.
“It's hard not to reference Keith, our CEO, and triple digit comes to mind pretty frequently now — more people are talking about it,” Alkhafaji explained at the time. He elaborated, “I’m a believer of economics, you look at the mining ratio and that’s sitting at 7:1, yet the price ratio is sitting at 90:1 right now. We just talked about that gold is comfortable at US$3,000, so that tells us that silver needs to play catch up to collapse that ratio.”
Mark O'Byrne of Tara Coins told INN in a June interview that he thinks silver’s medium- and long-term outlook is “as good as gold if not better because of these massive supply deficits for years now.” O'Byrne thinks silver could go to US$100 to US$150 over the next three to five years due to the high level of risk globally, combined with silver's industrial and monetary demand.
"Another thing that's important to note is the price inelasticity," he explained. "Most commodities, when the price goes up, the supply goes up. But with silver, it's primarily a by-product from base metal mining. It depends on the nature of the recession we get and how severe it is, but that could impact the demand for base metals, and therefore you may not see an increase in mining supply for silver."
Many other experts in the space expect silver to perform strongly in the years to come. Speaking with INN in an August interview, Tavi Costa of Crescat Capital expressed his confidence that higher silver prices are on the horizon.
“I think we’ll see new highs in the next 12 months and I think we will recast the highs in the next six months. Recasting meaning US$50 in the next six, and then breaking out to new highs in the next 12 months,” he said.
Concerning his reasons for laying out this path forward for silver, Costa cited the high volumes of silver purchases occurring after days when prices declined, as well as the clear outperformance of silver even when gold is falling.
Analyst firm InvestingHaven is very bullish on the silver market and is expecting prices to test all-time highs in 2025, moving as high as US$49 before blasting through new records in the next few years. InvestingHaven even sees the precious metal reaching as high as US$77 in 2027 and US$82 by 2030.
FAQs for silver
Can silver hit $1,000 per ounce?
As things are now, it seems unlikely silver will ever reach highs of US$1,000 per ounce, which Keith Neumeyer predicted in 2016 could happen if gold ever climbed to US$10,000 per ounce.
This is related to the gold to silver production ratio discussed above. At the time of the 2016 prediction, this ratio was around 1 ounce of gold to 9 ounces of silver, or 1:9. In 2024, it was about 1:7.5.
If silver was priced according to production ratio today, when gold is at US$3,000 silver would be around US$400, or US$333 at 1:9. However, the gold to silver pricing ratio has actually sat around 1:80 to 1:90 recently, and when gold moved above US$3,000 in March 2025, silver was around US$34.
Additionally, even if pricing did change drastically to reflect production rates, gold would need to climb by more than 300 percent from its current price to hit the US$10,000 gold price Neumeyer mentioned back in 2016.
Why is silver so cheap?
The primary reason that silver is sold at a significant discount to gold is supply and demand, with more silver being mined annually. While silver does have both investment and industrial demand, the global focus on gold as an investment vehicle, including countries stockpiling gold, can overshadow silver.
Additionally, jewelry alone is a massive force for gold demand.
There is an abundance of silver — according to the US Geological Survey, to date 1,740,000 metric tons (MT) of silver have been discovered, while only 244,000 MT of gold have been found, a ratio of about 1 ounce of gold to 7.1 ounces of silver. In terms of output, 25,000 MT of silver were mined in 2024 compared to 3,300 MT for gold.
Looking at these numbers, that puts gold and silver production at about a 1:7.5 ratio last year, while the price ratio on June 11, 2025, was around 1:92 — a huge disparity.
Is silver really undervalued?
Many experts believe that silver is undervalued compared to fellow currency metal gold. As discussed, their production and price ratios are currently incredibly disparate.
While investment demand is higher for gold, silver has seen increasing time in the limelight in recent years, including a 2021 silver squeeze that saw new entrants to the market join in.
Another factor that lends more intrinsic value to silver is that it's an industrial metal as well as a precious metal. It has applications in technology and batteries — both growing sectors that will drive demand higher.
Silver's two sides has been on display in recent years: silver demand hit record highs in 2022, according to the Silver Institute, with physical silver investment rising by 22 percent and industrial by 5 percent over 2021. For 2023, industrial demand was up 11 percent over the previous year, compared to a 28 percent decline in physical silver investment.
Is silver better than gold?
There are merits for both metals, especially as part of a well-balanced portfolio. As many analysts point out, silver has been known to outperform its sister metal gold during times of economic prosperity and expansion.
On the other hand, during economic uncertainty silver values are impacted by declines in fabrication demand.
Silver’s duality as a precious and industrial metal also provides price support. As a report from the CPM Group notes, “it can be seen that silver in fact almost always (but not always) out-performs gold during a gold bull market.”
At what price did Warren Buffet buy silver?
Warren Buffett's Berkshire Hathaway (NYSE:BRK.A) bought up 37 percent of global silver supply between 1997 and 2006. Silver ranged from US$4 to US$10 during that period.
In fact, between July 1997 and January 1998 alone, the company bought about 129 million ounces of the metal, much of which was for under US$5. Adjusted for inflation, the company's purchases in that window cost about US$8.50 to US$11.50.
How to invest in silver?
There are a variety of ways to get into the silver market. For example, investors may choose to put their money into silver-focused stocks by buying shares of companies focused on silver mining and exploration. As a by-product metal, investors can also gain exposure to silver through some gold companies.
There are also silver exchange-traded funds that give broad exposure to silver companies and the metal itself, while more experienced traders may be interested in silver futures. And of course, for those who prefer a more tangible investment, purchasing physical bullion in silver bar and silver coin form is also an option.
Private investor Don Hansen shared his strategies with INN for investing in precious metals, as well as a guide for building a low-risk gold and silver portfolio.
This is an updated version of an article originally published by the Investing News Network in 2016.
Don’t forget to follow us @INN_Resource for real-time news updates!
Securities Disclosure: I, Melissa Pistilli, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.
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22 September
Silver Price Surges Above US$44 Following Fed Rate Decision
The silver price surged on Monday (September 22), breaking US$44 per ounce to rise as high as US$44.11.
Silver was last above US$44 in 2011, and many of the same factors that drove it to that level are present in today’s market, including significant uncertainty around the economy, a global debt crisis and a dovish US Federal Reserve.
Silver price chart, December 31, 2024, to September 22, 2025.
Chart via the Investing News Network.
The gold price also reached a fresh all-time high on Monday, climbing to US$3,748.80 per ounce. The gains for both metals follow an interest rate cut from the US Federal Reserve at its meeting last week.
Although inflation has been moving further from the Fed’s 2 percent target, there has been greater uncertainty in the labor force. August’s nonfarm payroll report indicates greater slowing in the jobs market, with just 22,000 jobs added during the month; it also came with a downward revision showing the economy lost 13,000 jobs in June.
In its post-meeting statement, the Fed focuses on the worsening jobs market, noting that a 25 basis point cut allows it greater flexibility should the effects of tariffs on inflation be more sustained.
However, 90 percent of analysts are predicting that the central bank will make another cut when it next meets on October 28 and 29. That would provide additional tailwinds for precious metals markets.
The silver market is also benefiting from a high gold price as some investors turn to alternative safe-haven assets with lower entry prices. Additionally, silver has been in a structural deficit for the past several years as demand increases from industrial segments, providing significant upward momentum.
So far this year, the silver price has increased 52 percent, outpacing gold, which has gained 42 percent.
Don't forget to follow us @INN_Resource for real-time updates!
Securities Disclosure: I, Dean Belder, hold no direct investment interest in any company mentioned in this article.
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