Silver Rises Over 120% YTD 
China’s central bank (PBoC) has continued its gold buying streak for the sixth consecutive month, adding 70,000 ounces (just over 2 tons) to its reserves in April. However, this represents a declining trend in monthly purchases, down from nearly 3 tons in March, 5 tons in January and February, and over 10 tons in December. Since resuming gold purchases last November, the PBoC has acquired a total of 970,000 ounces (about 30 tons)—significantly less than previous buying sprees when it purchased similar amounts in a single month. Commerzbank analyst Carsten Fritsch suggests this reduced buying interest might be connected to rising gold prices or could indicate unreported purchases.
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Silver Price Forecast 2026-2027: The bull case and bear case laid out
Silver surged 147% in 2025 and hit an all-time high of $121/oz in January 2026. But what comes next? This analysis breaks down the bull and bear case for silver prices in 2026–2027 — covering supply deficits, industrial demand, Fed policy, and institutional forecasts from J.P. Morgan, Commerzbank, and more — so you can make a more informed decision about your precious metals strategy.
April 20, 2026
