Silver Price Volatility and Market Outlook
Written by Emily J. Thompson, Senior Investment Analyst
Updated: May 14 2026
0mins
Source: CNBC
- Extreme Price Volatility: On January 28, 2025, silver prices surged past $120 per ounce before crashing nearly 30% in a single day, highlighting extreme market instability that could undermine investor confidence.
- Signs of Market Recovery: Despite initial suppression during the Iran war, both spot silver and futures have risen 10% over the past month, currently trading around $87 per ounce, indicating a gradual market recovery.
- Analyst Insights: HSBC analysts argue that silver is 'fundamentally overvalued' with limited upside potential, suggesting that the gold:silver ratio may widen, indicating potential declines in silver prices even if gold rallies.
- Impact of Industrial Demand: As a critical component in various industrial goods, silver's price is more sensitive to economic cycles, and analysts warn that reduced industrial demand and increased supply may pressure prices further into 2026.
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Analyst Views on HSBC
About HSBC
HSBC Holdings plc (HSBC) is a banking and financial services company. Its business segments include Hong Kong, UK, Corporate and Institutional Banking (CIB), and International Wealth and Premier Banking (IWPB). Its Hong Kong business comprises retail banking and wealth and commercial banking of HSBC Hong Kong and Hang Seng Bank. Its UK business comprises UK retail banking and wealth (including first direct and M&S Bank) and UK commercial banking, including HSBC Innovation Bank. The CIB segment is formed from the integration of its commercial banking business (outside the UK and Hong Kong) with its global banking and markets business. The IWPB segment comprises premier banking outside of Hong Kong and the UK, its global private bank, and its asset management, insurance and investment distribution businesses. Its customers worldwide through a network covering 58 countries and territories. Its customers range from individual savers and investors to companies, governments and others.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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