BlackRock’s Aggressive Silver Acquisition Sparks Expert Predictions of Prices Doubling

Following a brief correction, silver prices have surged back with remarkable strength. Last night (Vietnam time), silver breached the $53/oz mark, nearing its historical peak from mid-October. Since the start of 2025, silver prices have soared by 80%, making it one of the top-performing assets during this period.

The silver frenzy is partly fueled by its extensive industrial applications, accounting for 70% of demand. On November 7, 2025, the United States Geological Survey (USGS) officially designated silver as a “Critical Mineral,” recognizing its vital role in the economy and national security, particularly in high-tech industries.

The boom in electric vehicles (EVs), solar panels, and AI has pushed demand to record highs. Since 2020, global demand has outpaced supply by approximately 800 million ounces cumulatively. In 2025, mine production reached only 835 million ounces, largely dependent on byproduct mining, leading to a “supply squeeze.” This tightness has made prices highly volatile, with physical silver nearly depleting in London vaults in October.

Additionally, aggressive buying by institutional “whales” has significantly impacted silver prices. BlackRock, the world’s largest asset manager, resumed heavy purchases in November after taking profits in October. Since early November, the iShares Silver Trust, managed by BlackRock, has attracted a net inflow of $650 million for silver acquisitions.

Year-to-date, the world’s largest silver fund has invested $1.7 billion to acquire approximately 32 million ounces (1,000 tons) of silver. As of now, the iShares Silver Trust holds over 500 million ounces (around 15,600 tons) of silver.

The buying pressure from these institutional giants is supporting silver prices against anticipated short-selling near historical highs. According to experts, if silver successfully surpasses its peak, short positions will need to be covered, potentially accelerating the price rally.

Bank of America (BofA), one of the largest banks in the U.S. and globally, recently released an optimistic report on precious metals, forecasting silver prices to reach $65/ounce by 2026. This projection is nearly 20% above silver’s historical high, yet it’s not the most ambitious prediction.

More optimistically, CNBC’s analysis in late October suggested silver could double to $100/oz after surpassing the $50 mark, a significant resistance level since 2011. This target aligns with historical patterns, where silver experiences explosive rallies once major resistance levels are breached.

“Silver’s volatility often mirrors that of gold but with amplified swings. With gold trading above $4,000 earlier this year, the spillover effect on silver could be substantial,”

CNBC’s report emphasized.

Paul Williams, CEO of Solomon Global, a gold and silver supplier, believes the fundamental drivers of the silver market show no signs of weakening, indicating the rally could extend into 2026. Despite reaching record levels, silver remains undervalued compared to gold.

“In the current context, $100/oz silver by late 2026 is entirely feasible,”

he stated.

Philippe Gijsels, Chief Strategist at BNP Paribas Fortis, who predicted silver would hit $50/oz over a year ago, shares this optimism. He believes silver’s value could double from its new highs, arguing that round numbers act as magnets for investors. As silver approaches these milestones, buying momentum typically accelerates, leading to new peaks.

Gijsels suggests this could be the early stage of the largest silver bull market in history.

“I wouldn’t be surprised to see silver surpass $100/oz in the near future,”

he remarked.