For 2021, analysts’ estimates for silver prices vary widely. While Citi expects it to average $40 in 2021, J.P. Morgan doesn’t see silver prices gaining much ground and expects it to average $26.5, which is near its current price. The average of analysts’ forecasts comes in at $32 for 2021, according to Goldsilver.com. In the long term, silver prices could eventually reach and even breach their previous high of $48 per ounce reached in 2011. On an inflation-adjusted basis, the peak in silver prices would be much higher as the demand for its industrial use surges due to Biden’s green energy plan.