Shawn Khunkhun, president and CEO of Dolly Varden Silver, a mineral exploration company, has predicted that silver will likely outperform gold, suggesting that the white metal is primed for higher targets above the $50 resistance.
According to Khunkhun, silver could hit the target of $73, a price level that sets the stage to outperform gold in the coming years, citing favorable market conditions and historical trends, he said in an interview with David Lin published on January 17.
Khunkhun emphasized that the $73 target is merely an initial benchmark, with the potential for even higher long-term gains. He noted that silver’s underperformance compared to gold proves that the rally still has room to run.
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“I’m anticipating gold continues to shine for the next two years at least. Silver will drastically outperform gold. <…> It’s just an initial target [silver to $73]. I have numbers that far exceeded that longer term, but nothing has changed regarding my medium or long-term view. I am still wildly bullish for both gold and silver, and that has not changed. <…> The fact that silver is lagging gold or just matching gold’s performance tells me there’s a lot of room to the upside,” he said.
In previous precious metals bull markets, Khunkhun acknowledged that gold typically moves first, with silver lagging initially before delivering outsized gains.
It’s worth noting that gold recorded a massive rally in late 2024, breaching key resistance levels but falling short of claiming $3,000.
The expert also highlighted the silver-to-gold ratio, noting that silver remains undervalued relative to the yellow metal.
Key silver price fundamentals
The economic and geopolitical environment adds fuel to Khunkhun’s bullish silver forecast. He pointed out that the combination of ongoing ‘hot wars,’ trade conflicts, and currency instability creates a strong demand for safe-haven assets like gold and silver.
According to the executive, these factors will continue to drive investors toward precious metals, with silver benefiting from its dual role as an industrial and monetary asset.
For investors, Khunkhun maintains that it’s time to accumulate silver at the current valuation while encouraging a closer look at the metal’s equities and related instruments poised to benefit from its rally.
Looking ahead, silver may gain momentum with Donald Trump’s return to the White House for a second term. His fiscal and trade policies, including tariffs and infrastructure spending, could drive inflation, making silver more attractive as a hedge.
However, these measures might also strengthen the U.S. dollar, potentially offsetting any bullish effects on precious metals.
Silver price analysis
Silver opened in 2025 at nearly $30 per ounce and is currently trading at $30.355, showing stability in the short term.
The price has experienced some volatility, with a peak of $30.8 in mid-January and a brief dip below $30, signaling fluctuations possibly tied to economic or geopolitical factors.
A recent 1.50% decline suggests a minor pullback, likely due to profit-taking or shifts in investor sentiment. Technically, the $30.8 peak for 2025 is resistance, while $30 remains a strong support level.
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