THE SEUCE BANK RENDE: UBS Recommends "Buy Silver", Elevate Forecast and See Possible Peak at $65/oz – Structural Deficit Deepens

[Igor Pereira]

The UBS, one of the largest equity managers in the world, has just issued a bullish note on silver (XAG/USD), joining the Bank of America (BofA) in the club of those who predict a massive discharge. The Swiss bank now "favors long positions (buy) in silver" and raised its perspectives, citing the possibility of a price peak for $65 per ounce.

By Igor Pereira, Financial Market Analyst, Junior Member WallStreet NYSE

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1. The Structural Deficit Thesis: 293 Million Ones Missing

The basis of the UBS forecast is not speculation, but the cold mathematics of supply and demand.

• Crescent Demand: The UBS projects that the demand for silver will rise to 1.34 billion ounces in 2026, driven by industrial applications (such as solar panels) and investment.

• Stagnant Offer: The offer, on the other hand, will only increase modestly.

• Deficit: The result is a projected deficit of about 293 million ounces only in 2026.

My Analysis (Igor Pereira): A deficit of this magnitude (more than 20% of total demand) is unsustainable at current prices. The market has no choice but to repair silver to much higher levels to balance this equation. The squeeze we saw in London safes and China is just the beginning.

2. The $65 Target: The New Border

The mention of a "peak for $65/oz" is significant.

• Above ATH: This target is well above the nominal historical maximum (~$55), meaning that the UBS sees silver entering a phase of price discovery in "blue sky" (blue sky breakout).

• Validation of "Squeeze": For the silver to reach $65, the market will have to go through a severe supply squeeze, forcing industrial users and investors to aggressively compete for the available metal.

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Conclusion of Igor Pereira: Silver is the Decade Trade

The BHU forecast confirms that the silver thesis is not marginal; it is institutional. The structural deficit is real and massive.

For ExpertFX School members, this reinforces the accumulation strategy. Silver at $50-$55) will look cheap when the 300 million ounce deficit starts biting in 2026. We are facing an asymmetric risk/return opportunity.

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