This year has been very good to gold (GCG26) and silver (SIH26) market bulls, as Comex futures prices have gained around $1,700 so far this year and silver has more than doubled in price. Will 2026 be as kind to the two precious metals?
Given that this year’s price gains in both gold and silver are set to be the biggest ever, it would be a very tall order to expect price action in 2026 to be stronger than that seen in 2025. But you never really know — especially in the endeavor of trying to analyze and forecast raw commodity markets prices.
The longer-term price charts for gold and silver have gone “parabolic” in trading parlance, which means price action has been nearly straight up on the monthly bar charts. This suggests that from a time perspective, the years-long bull runs in gold and silver are way closer to their ends than to their beginnings.
Still, the climaxing phase of a major bull move in a raw commodity market can show explosive price action to the upside before the bull rum finally ends.
Silver is presently likely seeing that final, explosive price gain phase. For perspective, when I started covering the silver market in the mid-1980s, silver’s price was around $5.00 an ounce. A big daily price move for silver back then was five cents. As I write this story today, silver futures prices are up $2.70 on the day.
Following are some trend-line gold and silver price projections for time periods in 2026, based on trend lines drawn from the weekly continuation charts for nearby Comex gold and silver futures. Keep in mind, this is more of an interesting analysis than it is a compelling, actionable analysis for traders and investors. In other words, odds are not great that all these projected prices will occur at precisely the times mentioned. It’s more of a fun exercise.
Early February: $4,475.00
Early May: $5,180.00
Early August: $5,857.00
Late: December: $6,893.00
Early February: $56.68
Early May: $69.00
Early August: $79.50
Late: December: $97.85
Remember, “don’t bet the farm” on these numbers.
In my 40-plus-year career of reporting on the commodity markets, including metals, I cannot think of another time when gold traders were looking so closely at the silver market for daily guidance on price direction. I think such will continue to be the case for the next few weeks.
