I just looked at the silver market data from the past few months – and honestly, it's wild what’s happening. At the beginning of the year, the silver price exploded and hit a new all-time high of over $121, only to plummet more than 30% within 24 hours. That’s historically intense and shows how volatile this market has become.

The interesting part: there are solid reasons why some analysts believe the silver price could explode. First, there’s the structural supply deficit – the market has been running a deficit for five consecutive years, and mine production is practically stagnating. At the same time, demand from Asia is booming like crazy, especially from China and India. Solar energy, electric vehicles, AI infrastructure – silver is needed everywhere. According to the Silver Institute, this demand is expected to only increase until 2030.

But here’s the problem: the US dollar. With the new Fed chair, who favors tighter monetary policy, the dollar has strengthened again – and that’s exactly what caused the price to crash in January. As long as the dollar remains strong, it will be difficult for silver. Some analysts predict $150 by the end of 2026, others expect $50. The range is huge, perfectly reflecting the current uncertainty.

With a 2025 gain of 147% and another 70% in January – that was definitely a wild ride. Whether the silver price will continue to explode or if we’ll first see a consolidation depends on how the dollar and monetary policy develop. The fundamentals look bullish, but the volatility is intense. I will keep watching this.