Silver: published research is broadly bullish, but with two very different clocks.
One strand of recent analysis makes a straight cyclical call — arguing silver near $68 could push toward $100 over the next year. The reasoning cited: US Treasury buybacks announced by Treasury Secretary Bessent, softer US jobs and inflation prints, liquidity conditions that look QE-like, and a technical pattern of higher lows.
A separate thread of research frames the upside as more strategic and conditional. The argument there: silver has already broken a long downtrend and could get a much bigger bid if central banks and sovereigns extend reserve diversification beyond gold. Russia's silver reserve program is flagged as a potential template, and gold breaking above $5,000 is described as the kind of trigger that could pull silver into the reserve conversation.
The takeaway from combining both views: no real disagreement on direction — the split is horizon and conditionality. One is a 12-month cyclical call; the other is a scenario-dependent structural case.