JPMorgan Revises Silver Price Target for 2027
JPMorgan has revised its silver price forecast downward across all remaining quarters, with the most significant cuts occurring in 2027. The bank reduced its average annual outlook to $63.90 per ounce from $85.80—a 26% decrease—according to J.P. Morgan Global Research. This revision reflects a shift in market conditions as interest rates rise and investor sentiment changes, impacting both industrial demand for silver and investment flows. The bank's revised forecast highlights that the current price of silver is already near its most optimistic projection for late 2027. As of early September 2026, spot silver traded at around $65.87 per ounce, indicating a bearish outlook from JPMorgan’s perspective. The gold-to-silver ratio has also risen sharply since January, signaling that investors are favoring gold over the more volatile metal. The downward revision underscores concerns about slowing industrial demand and thinner market liquidity for silver compared to gold. These factors contribute to greater price swings in response to macroeconomic shifts or changes in investor behavior.
Topics: JPMorgan precious metals price target revision silver