Silver Price Forecast: Highest Level in 14 Years But No Sign of A Top

The silver price has recorded its highest monthly close in 14 years at $36.05 for the month of June. The last time the price closed this high was July of 2011, when the precious metal notched a close of $39.23. Despite near-record prices, investor interest remains relatively low and we thus see no sign of a top. In this article, we will detail the relevant silver price action and what to expect going forward.

Silver Highest Close in 14 Years

Below is the silver monthly close chart from 2009 through present. Note that as of Monday, June 30, silver has recorded its highest monthly close since July of 2011:

One would think that with such decade+ high prices, investor interest would be booming. However, having been in the silver publishing business for nearly 15 years, we can state without hesitation that investor interest in silver now is nowhere near the level seen back in 2011, the last time prices were this high. Such is a good thing – as low interest means the average investor has not yet entered the silver market, and thus prices are likely to continue rising when he or she does.

Silver’s Short-Term Rising Pattern

Zooming into the shorter-term, below we can see the clear breakout in silver above $35 per ounce to new multi-year highs (red). Since the breakout in early June, silver has been consolidating in a tight range, presently in its 5th week of consolidation. This “pause” has caused many investors to wonder if there is further to come for silver… and doubt has crept back into the sector.

Such doubt is the perfect backdrop for a continuation move higher – as when we view the primary rising trend (blue) from 2022 through present we can clearly see a series of higher-highs and higher-lows printed every several months. This is a strong yet subtle rising trend that silver has been in for the last three years – the perfect backdrop for higher prices without much attention from the mainstream.

What’s Next for Silver?

Over the coming weeks we expect the short-term consolidation above $35 to resolve to the upside. Silver should next target the upper (blue) band of the rising primary trend, which will come in near $39, following which, we expect a pause and continued consolidation in the upper $30’s into the second half of the year.

Lessons from History

The stair-step fashion in which silver has been rising for the last three years makes it a perfect bull market for the achievement of higher prices with little fanfare. Remember back to 2010 - 2011: following the break above $17 in August 2010, silver nearly tripled in just 8 months, to $50 per ounce in April of 2011.

Was this move sustainable? Absolutely not. Following silver’s 2011 peak, the precious metal declined for 5 years, losing 72% of its value into the 2015 bottom at $13.65.

The lesson? We do not want to see silver tripling in value over just a few short months. Such moves are unsustainable.

The good thing for current investors in the precious metals market is that silver is showing no signs of any sort of unsustainable trajectory as it did in 2011.

Instead, the market continues to stair-step its way higher, with higher-highs and higher-lows being printed every several months. Meanwhile, the market is attracting little fanfare.

This is the perfect backdrop for a continuation higher back toward the 2011 peak near $50 per ounce.

Following the achievement of this level, we will take a major step back and re-evaluate whether silver is ready to break $50, or whether it will need to retrace significantly before doing so.

Takeaway on Silver Prices

Silver has just recorded its highest monthly close in 14 years. It has broken above yearlong resistance at $35 and has been consolidating those gains for the last five weeks. The stair-step fashion higher has led to most speculative investors losing interest in the silver market; however, this type of slow yet methodical gain is much more constructive for the long-term health of the sector, compared to the unsustainable blow-off move that was witnessed in 2011.

Higher silver prices lie ahead for the rest of 2025. At www.iGoldAdvisor.com we publish Precious Metals Intelligence+, an independent research service covering the exact timing for silver’s expected advance, and also the exact silver mining companies that we are investing in. We further cover the latest expectations for physical gold, the US dollar, bitcoin, and related commodity markets (platinum, palladium, copper) which impact the precious metals. For higher net-worth investors, our Elite Private Placement service allows access to silver private placements, which grant investors free warrants in addition to their silver mining shares, for greater upside potential as compared to buying shares in the open market.

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