Silver Price Target: $80-$85 by Year-End, Analyst Says

On April 10, 2025, silver trades near $70, and veteran analyst Peter Krauth sees a clear path to $80-$85 by the end of the year. In a recent interview with Money Metals host Mike Maharrey, Krauth laid out why the metal’s historic breakout above $50 is just the beginning of a longer bull run.

Krauth, editor of Silver Stock Investor and author of The Great Silver Bull, argues that silver’s hybrid nature—half monetary, half industrial—is now firing on both cylinders. He points to accelerating investment demand, record industrial consumption, shrinking exchange inventories, and emerging technologies as key drivers.

$50 Is the New Floor

Silver briefly tested $55 repeatedly over the summer without slipping back below its all-time high. Krauth now regards $50 as a solid support level. “Barring a black swan, I don’t expect silver to trade below $50 again,” he said. The psychological barrier that held for 45 years has become a launching pad.

Supply Deficits Finally Matter

After several consecutive annual deficits, the price impact was delayed by massive stockpiles. But those buffers have evaporated. COMEX inventories surged briefly in late 2025, then plunged again during the metal’s “mania phase.” Today, above-ground supplies are at multi-year lows, making each new deficit more consequential.

Official Deficit Numbers May Be Too Low

The Silver Institute reports a 2025 deficit of about 50 million ounces, but Krauth challenges that figure. He includes ETF inflows, which are typically excluded. When added, the 2025 deficit jumps to over 300 million ounces—the largest ever recorded. “ETF metal is sticky; investors don’t flip it quickly,” he noted. Recent ETF inventory builds suggest demand is being undercounted.

Solar Power: A Demand Story That Won’t Fade

Solar-panel adoption continues to surge. Africa’s solar capacity is expected to rise 45% in 2026, mirroring the leapfrog effect of mobile phones. Energy research from Ember shows that $100 million buys 1.5 terawatt-hours per year from natural gas—but solar panels deliver that same output for 25 years. That math is driving governments, utilities, and data-center operators to go solar.

Copper Substitution Risk Is Overblown

Although some manufacturers experiment with copper in solar cells, Krauth remains skeptical. Copper is less efficient, corrodes faster, and requires costly retooling. “Solar panels need to last 20 years, not 3,” he said. Meanwhile, newer photovoltaic technologies actually demand more silver. No large-scale commercial substitution has been observed.

AI, EVs, and Medical Tech Add New Demand

Silver’s unmatched conductivity makes it essential for processors, servers, and data centers. Electric vehicles also use silver in connectors and battery components. Krauth is particularly intrigued by medical applications: silver nanoparticles in corneal replacements, wound dressings, and operating rooms kill bacteria without resistance buildup. “Microbes don’t adapt to silver,” he notes.

Energy Insecurity Fuels Silver’s Monetary Appeal

Recent geopolitical disruptions—including the loss of 20% of global oil supply following the Iran conflict—have driven up energy costs and inflation. Octopus Energy, the UK’s largest electricity provider, reported a 50% jump in solar panel sales in February–March 2026. China’s silver imports hit a record in March 2026, and 50 countries bought record quantities of Chinese solar panels that same month. Higher inflation and supply chain anxiety boost silver’s role as a store of value.

Krauth’s New Vancouver Summit

Krauth will host the inaugural Gold Advisor Investor Summit on November 5, 2026, in Vancouver. The free, one-day event will feature dozens of mining companies and cover gold, silver, copper, lithium, and uranium.

Bottom Line

The silver bull market is far from over. With $50 now acting as a floor, supply deficits accelerating, and industrial demand expanding across solar, AI, and healthcare, Krauth’s $80–$85 target by year-end looks increasingly attainable. Investors should watch COMEX inventory levels and ETF flows for confirmation of the next leg higher.