Silver Price Forecast: XAG Rebounds As UBS Holds $70 December Prediction

After a volatile week, the silver price prediction from UBS remains $70 for December and $80 for September 2027.

The Silver price recovered to $64.48 an ounce on Friday, clawing back less than a third of Thursday’s losses.

The 1.64% rebound still left XAG/USD down 2.6% over the week, with the metal needing a sustained recovery to reach UBS’s forecasts.

The bank’s silver price forecast starts at $70 in December 2026, rises to $75 in March and June 2027, then reaches $80 that September.

UBS has retained its earlier September projections, with December’s $70 estimate around 8.6% above Friday’s close and September 2027’s $80 target 24% higher.

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Can silver build on Friday’s rebound?

Silver prices gained despite US core inflation accelerating to 0.3% month-on-month in August from 0.2% in July.

UBS had already anticipated a rate rise before those figures arrived.

The bank said on 10 September: “Our economists’ base case is that the Fed will raise its policy rate by 25bps. Given current market expectations, the hike itself should have a relatively limited impact.”

Its focus was the accompanying message: “More important will be whether markets interpret the decision and the tone of the subsequent press conference as leaning hawkish or dovish.”

In its currency outlook, UBS added: “In our base case, we do not expect a hawkish hike that would provide broad support for the dollar.”

That leaves room, in our view, for silver to recover even if US rates rise, provided the dollar does not strengthen materially.

The Fed’s 15–16 September meeting will test that reading, with most of Thursday’s silver losses still unrecovered.

Our currency coverage draws on live market data, official economic releases and published bank research.