As 2025 prepares to close its financial books, speculation about the year ahead is already echoing loudly across global markets. Robert Kiyosaki, the well-known financial author of the bestselling book Rich Dad Poor Dad, has issued a striking forecast for silver, suggesting its price could surge to $200 an ounce in 2026.

Kiyosaki strongly warned against holding cash, arguing that it could lose a significant portion of its value amid rising inflationary pressures and growing global economic risks.

His comments followed silver’s recent record-breaking rally, as the white metal continues to register historic levels after surpassing the $70-per-ounce threshold for the first time ever.

Throughout 2025, silver is on track to record the largest annual gain in its history, posting an extraordinary rise of nearly 150% since the beginning of the year.

This exceptional performance has been driven by massive industrial demand and a chronic global supply deficit, placing silver at the top of this year’s most profitable assets.

More broadly, precious metals markets have undergone notable shifts in recent months as the global economy approaches a different monetary and financial phase. Price movements in gold and silver are no longer merely reflections of inflation or interest rate policy, but rather a mirror of deeper structural changes within the global financial system.

Against this backdrop, attention is once again turning toward 2026, as speculation intensifies over silver’s ability to extend its rally toward unprecedented levels, with growing talk of a potential move toward $200 an ounce.

These expectations are largely based on the likelihood that the structural factors behind silver’s explosive 2025 rally will persist and possibly intensify, which will be examined in detail in the following sections of this report.

Robert Kiyosaki’s Outlook

“Silver above $70… great news for investors and shocking for savers.” With these words, Robert Kiyosaki opened his posts on the X platform, commenting on silver’s move to historic levels.

Kiyosaki said that silver’s rise above $70 is great news for precious metals investors, but bad news for those who still believe saving cash is a safe way to protect wealth.

He renewed his warning about an upcoming inflationary wave that could erode purchasing power, especially that of the US dollar, saying he fears that silver reaching $70 is an early warning of hyperinflation over the next five years, alongside the continued erosion of the “fake dollar.”

In a direct call to shift toward real assets, the financial author added that investors should not side with the losers, arguing that while the dollar continues to lose purchasing power, silver could head toward levels approaching $200 an ounce by 2026.

These statements represent a form of validation for Kiyosaki’s earlier view, as he had predicted in recent months that silver would reach $70 before the end of 2025, a forecast that has now materialized.

Kiyosaki believes silver remains “the best investment opportunity of all time,” describing it as an ideal vehicle for wealth preservation and exceptional returns amid global economic disarray.

Price Overview

Silver managed to break a historic barrier last October, surpassing its previous record high of $49.76 an ounce, which was set in April 2011.

Since that breakout, the white metal entered a powerful rally that continued to post unprecedented record highs, culminating in an all-time peak of $72.71 an ounce during trading on Wednesday, December 24, 2025.

From the beginning of the year to date, silver prices have climbed by roughly 150%, putting the metal on track for its largest annual gain ever.

Bullish Drivers

While the world was watching gold reach new highs, silver delivered one of the biggest surprises of the year, generating gains that stunned markets. This price explosion was fueled by a combination of structural crises and investment opportunities that converged during 2025, restoring silver’s status as a strategic metal. Below are the key factors that made 2025 the year of silver.

Retail Investors

This year saw unprecedented demand from retail traders and individual investors for physical silver in the form of bars and coins.

This surge came after silver remained undervalued for a prolonged period relative to gold’s record-breaking advances, making silver bullion a more attractive and cost-effective option for investors seeking protection from the erosion of fiat currency purchasing power.

Strong Industrial Demand

Silver has cemented its role as a critical component in future technologies. Industrial demand reached historic highs in 2025 due to massive expansion in solar panel manufacturing and the electric vehicle sector.

This was compounded by silver’s essential role in artificial intelligence infrastructure, sectors that consume large quantities exceeding what is currently available in the market.

Global Supply Deficit

The supply crisis deepened as the market entered a fifth consecutive year of structural deficits. Declining output from major silver mines and depleted global inventories have made it impossible for supply to keep pace with surging demand, pushing prices toward unprecedented levels.

Global Monetary Policy Trends

The year 2025 marked a turning point in global monetary policy, as the Federal Reserve and major central banks continued implementing interest rate cuts.

This shift reduced the opportunity cost of holding precious metals, encouraging investment funds to inject substantial liquidity into gold and silver markets.

Additional Factors Supporting the Rally

Safe-haven demand intensified amid rising global political tensions throughout 2025, driving capital flows toward precious metals as protection against economic volatility.

The decline in the US dollar, driven by interest rate cuts, increased silver’s appeal to international buyers, as lower dollar prices boosted global demand.

Media-driven expectations and bold forecasts by prominent analysts also played a key role in attracting public attention to silver, transforming predictions into a self-reinforcing buying force before the end of the year.

Silver Outperforms Gold

Spot silver rose by about 150% this year, far exceeding gold’s gains of more than 70%, supported by strong investment demand, its inclusion on the US critical minerals list, and aggressive buying by major funds.

Views and Analysis

Suki Cooper, analyst at Standard Chartered, said that inflows into silver exchange-traded products exceeded 4,000 metric tons.

Analysts at Mitsubishi said that momentum and fundamentals support further gains, although elevated long positions and lower year-end liquidity could trigger volatility, as traders buy on dips while real yields remain low and physical supply constrained.

They added that silver is already in technically overbought territory, noting that it now takes just 64 ounces of silver to buy one ounce of gold, down from 105 ounces in April.

Rona O’Connell, analyst at StoneX, said that some traders will certainly focus on the gold-to-silver ratio, but beyond that, once current tensions ease, prices may decouple and silver is likely to underperform.

Zain Vawda, analyst at OANDA Market Pulse, said that expectations for interest rate cuts have increased following the latest US inflation and labor market data, supporting demand for precious metals.

Vawda added that safe-haven demand is also expected to remain strong amid Middle East tensions, uncertainty over a Russia-Ukraine peace deal, and recent US actions against Venezuelan oil tankers.

Bullish Outlook for 2026

Forecasts for 2026 vary among major financial institutions between cautious optimism and strong bullishness. While most do not go as far as Robert Kiyosaki’s $200 target, they broadly agree that silver is likely to remain on an upward trajectory. Below are some of the key institutional forecasts for silver in 2026.

Goldman Sachs

The bank’s analysts see silver as the primary strategic metal of the green transition and expect average prices in 2026 to range between $85 and $100 an ounce.

Their outlook is based on rising demand from artificial intelligence technologies and solar panels, with the bank arguing that the structural supply deficit will make sustained moves below $70 increasingly difficult.

UBS

The Swiss bank expects silver to continue outperforming gold in 2026, targeting levels around $95 an ounce.

This view is based on expectations that the Federal Reserve will continue cutting rates, weakening the dollar and encouraging large investment funds to increase their silver holdings.

Citi

Citi has raised its silver outlook, pointing to a potential move toward $110 an ounce in the second half of 2026.

The bank believes that explosive demand from the electric vehicle sector could exceed all prior estimates, potentially leading to an acute shortage of physical silver available for immediate delivery.

The Silver Institute

In its forward-looking report, the Silver Institute did not specify a price target but warned that the gap between supply and demand could reach critical levels in 2026.

It noted that prices above $120 an ounce may be required either to incentivize mine output growth or to encourage investors to sell holdings to meet industrial demand.

Commerzbank

The German bank adopts a more conservative stance, expecting prices to stabilize around $80 to $85 an ounce.

It cautioned that the rapid gains seen in 2025 could trigger widespread profit-taking early in 2026 before prices resume their upward trend.

Major market participants continue to increase their exposure to Ethereum (ETH), investing hundreds of millions of dollars in the world’s second-largest cryptocurrency.

This comes despite recent price weakness, which has pushed the token down by nearly 3% so far this week. The divergence suggests that while short-term price action remains under pressure, long-term conviction among institutional investors and large “whales” remains firmly intact.

Price Weakness Fails to Deter Large Buyers

Data from BeInCrypto Markets showed that Ethereum continued to struggle amid a broader market pullback. At the time of writing, ETH was trading at $2,929.23, down 1.06% over the past 24 hours.

While the decline has unsettled some investors, others appear to be treating it as a buying opportunity. Blockchain analytics firm Lookonchain highlighted that BitMine Immersion Technologies purchased 67,886 ETH, worth around $201 million.

That followed an acquisition just one day earlier, when the company bought 29,462 ETH worth $88.1 million from BitGo and Kraken. The back-to-back purchases align with BitMine’s broader accumulation strategy.

Over the past week alone, BitMine acquired a total of 98,852 ETH, lifting its overall Ethereum holdings to more than 4 million tokens. With ETH trading slightly below the company’s average entry price of $2,991, BitMine appears unfazed by recent volatility.

Trend Research Boosts Its Holdings

Another prominent buyer was Trend Research, a secondary investment entity led by Jack Yi, founder of LD Capital. The firm acquired 46,379 ETH on Wednesday, bringing its total holdings to roughly 580,000 ETH.

According to the EmberCN account: “They began accumulating ETH at the lows in early November around the $3,400 level. So far, they have accumulated a total of 580,000 ETH (about $1.72 billion) at an estimated average cost of around $3,208. This implies unrealized losses of roughly $141 million.”

In a public statement, Yi revealed that the firm is preparing to allocate an additional $1 billion toward Ethereum purchases and advised against opening short positions on the token.

Continued On-Chain Whale Activity

Large on-chain whales also remained active. A wallet known as the “66k ETH Borrow” whale, which had previously accumulated 528,272 ETH worth roughly $1.57 billion, added another 40,975 ETH valued at about $121 million.

Lookonchain said: “Since November 4, this whale has purchased a total of 569,247 ETH (worth $1.69 billion), with $881.5 million of those purchases funded through loans from the Aave protocol.”

Meanwhile, Fasanara Capital employed a leveraged strategy, buying 6,569 ETH worth $19.72 million over two days before depositing the tokens into the Morpho protocol. The firm also borrowed $13 million in USDC to acquire additional Ethereum.

Ethereum Whales Split as Buying and Selling Intensify

Not all large players were buyers. Some opted to reduce exposure. BeInCrypto reported that Arthur Hayes transferred 682 ETH, worth nearly $2 million, to Binance on Wednesday.

Lookonchain noted that Hayes sold 1,871 ETH worth $5.53 million over the past week, while purchasing Ethena (ENA), Pendle (PENDLE), and ETHFI.

Hayes wrote on X: “We are reallocating from ETH into high-quality DeFi names that we believe can outperform as fiat liquidity improves.”

Adding to selling pressure, Onchain Lens reported that a long-term Bitcoin whale deposited 100,000 ETH, worth about $292.12 million, into Binance. Such large exchange inflows are often interpreted as potential preparation for selling, though they do not always lead to immediate liquidation.

Earlier, ETHZilla also revealed the liquidation of 24,291 ETH worth roughly $74.5 million to repay senior secured convertible debt. Despite these opposing flows, BeInCrypto noted that selling activity among long-term Ethereum holders has collapsed by more than 95%.

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Gold prices were largely steady in Wednesday’s trading, holding near record levels amid quiet market conditions as investors prepared for the Christmas holiday.

Government data released on Tuesday showed that the preliminary reading of US gross domestic product grew by 4.3% year on year in the third quarter, up from 3.8% in the second quarter and well above expectations for growth of 3.3%.

According to the CME FedWatch tool, the probability of a 25-basis-point interest rate cut in January fell to 13.3%, down from 19.9% on Tuesday and 24.4% a week earlier.

Commenting on the data, White House economic adviser and Federal Reserve chair nominee **Kevin Hassett** described the figures as “excellent” and also praised the strength of the US labor market.

Meanwhile, US President **Donald Trump** said that his nominee to lead the Federal Reserve should have monetary policies and decisions aligned with his own views.

Separately, the US dollar index was steady at 97.9 points by 17:14 GMT, after recording a session high of 98.0 points and a low of 97.9 points.

In trading activity, spot gold rose by less than 0.1% to $4,509.2 per ounce by 17:14 GMT.

The S&P 500 reached a record intraday high on Wednesday for the first time in more than a month, as investors returned to artificial intelligence stocks and bet that the Federal Reserve will cut interest rates again next year.

The index was last trading up 0.2% at 6,920.88 points, surpassing its previous intraday peak of 6,920.34, set on October 29, when shares of AI heavyweight Nvidia helped lift the index to a market valuation above $5 trillion for the first time.

US equities have rebounded from their November lows, with investors rotating back into leading technology and AI stocks as the year-end approaches. Moderating inflation and employment data have kept hopes alive for additional interest rate cuts next year.

The benchmark index had fallen as much as 5.7% from its October peak in November, as investors grew concerned about elevated technology valuations and the risk of a bubble in AI-related stocks, despite Nvidia posting strong third-quarter earnings.

However, AI shares regained momentum after Micron Technology forecast stronger-than-expected earnings last week.

Amid volatility in technology stocks, investors also shifted toward cyclical sectors such as financials and raw materials, helping the S&P 500 recover from its November decline.

The S&P 500 is up more than 17% year to date, while the Nasdaq Composite, which is heavily weighted toward technology stocks, has gained more than 21%, and the Dow Jones Industrial Average has risen over 13% over the same period.