Keith Neumeyer, CEO of First Majestic Silver, has made a bold and controversial prediction in the precious metals world by forecasting that the price of silver could exceed $100 per ounce. Neumeyer bases this expectation on several fundamental factors, including the ongoing deficit in the silver market, rising industrial demand, and limited production from mining companies. He believes that silver is a strategic commodity, not just a safe-haven investment like gold, due to its critical role in modern technology especially in electric vehicles and solar energy.
Although silver reached its highest level in 13 years in June 2025, surpassing $36 per ounce, a 175% leap to reach $100 would still require extraordinary market conditions. Neumeyer argues that silver is currently undervalued compared to gold and expects that any major disruption in the supply-demand balance could strongly push prices upward.
Moreover, some analysts share Neumeyer’s optimism, with others suggesting that a $100 price point is easily attainable in the coming years. Some have even speculated about silver reaching as high as $500. On the other hand, there are warnings about potential negative factors that could hinder such a price surge such as the strength of the U.S. dollar, the Federal Reserve’s stance on interest rates, and the continued dominance of banks in the paper silver market. Neumeyer sees this last factor as a key obstacle to rising prices.
Nonetheless, the persistent global supply deficit, declining above ground inventories, and the global shift toward renewable energy along with increasing industrial use of silver could act as powerful drivers that make the triple digit silver scenario more realistic in the future, even if not necessarily in the near term.
