Silver prices have reached record highs in both domestic and international markets, driven by strong industrial demand, supply deficits, and expectations of US Federal Reserve rate cuts. Analysts predict further gains, with some forecasting prices could reach $100 per ounce in 2026. Key demand drivers include its use in electric vehicles, solar panels, and semiconductors. Supply concerns are exacerbated by production being a by-product of other metals and potential export restrictions from China. While some analysts express optimism, others caution about potential overvaluation.