As of 17:17 on April 7, 2026, the spot London Silver price stood at 72.882 US dollars per ounce, edging up 0.017 US dollars or 0.02% from the previous trading day, while the active COMEX New York Silver futures contract traded at 73.075 US dollars per ounce, rising 0.228 US dollars or 0.31% intraday. Both benchmarks reflect a recent stable trading trend, following the sharp “roller-coaster” volatility in March. During that month, silver prices plummeted from a high of 82 US dollars per ounce on March 10 to a yearly low of 68 US dollars per ounce on March 23 before staging a modest rebound, with the market gradually stabilizing thereafter. Notably, global industrial development is driving a surge in silver demand—particularly in the photovoltaic, new energy vehicle (NEV), and electronics sectors—making it a key factor underpinning silver price stability and defining its stable trading range.
Against the backdrop of current stable silver prices and surging industrial consumption, the stable range of international silver prices can be divided into short-term and medium-to-long-term dimensions, jointly determined by industrial demand, supply dynamics, and macroeconomic factors. In the short term (1-3 months), silver prices are expected to trade stably within the range of 70-78 US dollars per ounce. On one hand, rigid industrial demand provides strong support: global silver demand in the photovoltaic industry is projected to grow alongside the 30% increase in global photovoltaic installed capacity in 2026, with each gigawatt of photovoltaic power consuming 8-10 tons of silver; NEVs consume 7 times more silver per unit than traditional fuel vehicles, further boosting overall demand. On the other hand, the Federal Reserve’s persistent high-interest rate policy limits upward momentum, making it difficult for silver prices to break above the upper bound of the stable range in the short term. The 70 US dollars per ounce mark has emerged as a strong support level, underpinned by the global silver supply gap and ten-year low inventories, which are unlikely to be broken effectively.
From a medium-to-long-term perspective (6-12 months), the stable range of international silver prices is likely to shift upward to 78-95 US dollars per ounce, driven by sustained growth in industrial demand and a tight global supply pattern. Globally, 2026 will mark the sixth consecutive year of silver supply shortage, with an expected gap of approximately 4,500-5,000 tons (around 67 million ounces)—a ten-year high. Notably, 70-80% of silver is a by-product of copper, lead, and zinc mining, making it difficult to rapidly expand supply in the short term even amid higher prices. Meanwhile, global visible silver inventories remain at a ten-year low, further strengthening price support and narrowing the downward scope of the stable range. For the global silver jewelry market, a stable silver price range will help stabilize merchants’ cost pressure. While retail prices of branded silver jewelry (typically $3.50-$7.20 per gram) will not fluctuate significantly—due to the inclusion of design and craftsmanship premiums—stable raw material prices are expected to encourage niche brands to launch promotional activities, driving a recovery in terminal consumption. In summary, the current stable operation of international silver prices is supported by rigid industrial demand, and the clear stable range provides a reliable reference for both consumers and investors worldwide.
