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| By Sean Brodrick |
Silver has had a wild ride so far in 2026, capping a historic parabolic surge followed by a gut-wrenching “flash crash.”
It then bounced, followed again by another teeth-rattling dump as war swept the Persian Gulf and investors sold silver to raise cash.
If you’re one of the investors who got thrown by that wild ride, it’s time to dust yourself off and get ready to ride again.
Silver is on track to hit $200 — all the bullish drivers are still in place — and the next leg is starting.
What bullish drivers?
I’m talking about a "perfect storm" of a five-year structural supply deficit, exploding industrial demand from AI data centers and solar power and a massive short squeeze.
Only now, things are even more bullish.
For starters, silver is set for a sixth year in a row of deficits!
In fact, the 2026 global deficit is projected to widen by 15% to 46.3 million troy ounces.
This is driven by an 18% increase in estimated demand for silver bars and coins.
And you know where a lot of that demand is coming from? China!
That country’s imports of silver surged to an all-time high in March.
Why is this happening? China’s retail investors are piling into small silver bars, while solar power manufacturers are scooping up the metal, which is an excellent conductor of electricity.
In fact, the world’s solar power manufacturers used 196 million ounces of silver last year. China’s solar industry used 157 million of that.
Only now is the adoption of high-efficiency cell designs actually increasing silver intensity per unit compared to older models.
That sure sounds bullish to me!
And the pullback we saw in silver came from quite a height. Despite the bumpy ride, silver is STILL up 147% year over year, from around $32 to around $80.
How High Will Silver Go?
We’ll see $100 again this year. But that’s not the top.
Silver can go much higher in this multiyear cycle.
Remember, silver is gold’s manic-depressive sister.
When gold goes down, silver is weeping on the floor. When gold goes up, silver is bouncing off the ceiling.
History shows silver outperforms gold once bull markets accelerate.
In the 1970s, gold surged by 2,300%, while silver surged by 3,540%.
In the 2000s, gold gained 648%, while silver jumped 1,106%.
Silver’s old high, set in January 1980, was $49.50. Adjusted for inflation, that’s $210 an ounce!
Am I saying that silver will hit $210 this cycle? I’m saying it’s a real possibility, especially once silver pushes above $100 again.
When that happens, suddenly, you’ll see Wall Street wake up and trot out a long list of reasons why you should buy silver.
So, beat Wall Street to the punch and buy silver now!
Better yet, buy the Global X Silver Miners ETF (SIL).
That ETF holds a basket of silver explorers, developers and producers.
And the beauty of the SIL is that its holdings are leveraged to the underlying metal.
That means the SIL usually outperforms the underlying metal.
Look at the three-month performance.
As of April 2026, the fund maintains a net expense ratio of 0.65%.
Its top three holdings are streaming giant Wheaton Precious Metals (WPM), Pan American Silver (PAAS) and Coeur Mining (CDE).
So, buy silver or buy the SIL.
Or if you have an appetite for greater risk and reward, buy individual silver miners.
I can help out with that. In fact, I just showed a select group of members my seven favorite miners.
You can see this list for a limited time if you watch the replay of my “Mag 7 Miners” event here.
All the best,
Sean
