Will Silver (SI) hit (HIGH) $120 by end of June?

Prediction markets put the probability at 10%: Will Silver (SI) hit (HIGH) $120 by end of June. Currently, markets see this as unlikely (10% YES).

What’s Happening

Spot silver posted its strongest single-day move since February on Monday, May 11, 2026, rising more than 7% at its intraday peak as buyers returned to precious metals following weeks of pressure tied to the Iran war. The advance capped a three-day surge that brought the metal close to its April high of $83.04, with last week's 6.6% gain ranking as silver's best weekly performance of the year. Technical analysts at Reuters noted the break of a multi-month downtrend line on Wednesday, an indicator they say could signal that the question of whether silver (SI) hit (high) $120 by end of June re-enters the conversation if April's peak is decisively cleared. [Forbes, May 11]

The rebound follows two sharp drawdowns earlier in the cycle: a January tumble from record highs and a renewed slump at the outset of the Iran war. Philippe Gijsels, chief strategy officer at BNP Paribas Fortis, told CNBC he expects both gold and silver to reach new all-time highs "in the not too distant future." Kitco's market commentary framed silver's push above $80 as reflecting a structural shift in the global economy, citing supply tightness, industrial demand from solar and electronics, and persistent safe-haven flows. The metal earlier this year set its highest-ever nominal price before the geopolitical shock reset positioning across the futures complex. [Kitco, May 12]

Near-term direction hinges on Tuesday's CPI report, with traders watching whether inflation data softens enough to pull Treasury yields lower and extend the rally, or reignites Fed hawkishness and reverses momentum. FXEmpire flagged elevated volatility tied to oil prices, Fed policy expectations and macro data as the dominant drivers into June. For silver (SI) hit (high) $120 by end of June to resolve YES, prices would need to clear the April $83.04 ceiling and add roughly 45% within approximately seven weeks — a move without precedent in the current cycle outside the brief January spike. [FXEmpire, May 10]

Traded on Polymarket — $972K Volume

Polymarket prices this at 10c YES with $972K in volume. Moderate liquidity — use limit orders for positions above $1K to avoid moving the price.