Silver Price Forecast: $70 Test Masks $135 Supply Shock

Silver price forecast: XAG/USD bulls are testing the $70 level right now after a three-day rally. As of Saturday 22 August 2026, silver has gained more than 7.4 per cent this week, yet it remains 43 per cent below its January 2026 all-time high of $121.64 and down 5.41 per cent year to date. In this video, I break down whether the next target of $72.36 is realistic or whether overbought conditions could trigger a pullback. You will learn the exact technical levels that matter, including first support at $68.47 and the next resistance at $72.05. I also explain how the US Treasury's announcement to at least double its long-term debt buybacks pushed Treasury yields and the dollar lower, making non-yielding assets like silver more attractive. I examine the Silver Institute's estimate of a 46.3 million troy ounce deficit, the sixth consecutive annual shortfall, and Bank of America's bull scenario of $135 to $309 if physical shortages intensify. Finally, I compare the latest forecasts from J.P. Morgan, Goldman Sachs and the LBMA, which range from $42 to $165 for 2026. I also show why the 200-day simple moving average at $72.05 matters more than the psychological $70 level, and why losing $68.47 would weaken the bullish case. This video is designed for UK investors and traders who want evidence-based silver analysis rather than hype. • Why silver hit $70.02 on Friday 21/08/2026 and settled near $69.50 • The US Treasury debt buyback move and its impact on yields and the dollar • Technical levels to watch: $68.47 support, $70 resistance, $72.05 next target • Silver's sixth consecutive annual deficit and what it means for physical supply • Bank of America's bull scenario of $135 to $309 if shortages worsen • CoinCodex's seven-day target of $72.36 by 28/08/2026 • The key risk: RSI nearing overbought could trigger a sharp pullback Watch until the end to understand the single level that separates a genuine breakout from a bull trap, and