Silver price forecasts diverge as Stanley Druckenmiller reshuffles portfolio

Major financial institutions are showing divergent outlooks for silver prices. J.P. Morgan has lowered its 2026 annual forecast from $81.00 to an average of $70.00, with a fourth-quarter projection of $63.00. In contrast, Citi maintains targets of $75.00 for the short term and $90.00 for the six-to-twelve-month horizon, while Goldman Sachs predicts an annual average between $85.00 and $100.00.

Despite these varying forecasts, the Silver Institute reports a sixth consecutive year of global supply deficits. Analysts suggest this physical scarcity, driven by industrial demand in sectors such as solar energy, electronics, and electric vehicles, may act as a buffer against price volatility caused by monetary policy.

In separate investment news, Stanley Druckenmiller’s Duquesne portfolio saw significant restructuring in the second quarter. SEC filings show the total portfolio value grew from approximately $3.38 billion in March to $5.21 billion by the end of June. Notable moves included complete exits from positions in Broadcom, Bloom Energy, and Almonty Industries, while two new holdings entered the portfolio's top ten.