Global Silver Trades Near $63-64 an Ounce as Silver Institute Flags a Sixth Straight Annual Deficit for 2026

According to TGJU, published Sunday, August 9, 2026 (18 Mordad 1405), global spot silver is trading in the $63 to $64 range after a weekly rebound of nearly 10 percent, still well below its January 2026 record of about $121 to $122 an ounce. Sahmino's own price data recorded silver at $63.54 an ounce on Saturday, August 8.

According to the Silver Institute's World Silver Survey 2026, the global silver market will post its sixth consecutive annual supply deficit in 2026, estimated at about 46.3 million ounces, up from a 40.3 million ounce deficit in 2025. The market's cumulative deficit since 2021 has reached roughly 762 million ounces.

About 70 to 74 percent of global silver production comes as a byproduct of copper, lead, zinc and gold mining, meaning higher prices alone cannot quickly expand mine supply; global mine output growth this year is estimated at only about 1 percent.