UBS analysts predict a potential short-term decline in silver prices due to a strong US dollar and reduced speculative positions, but expect a rebound within 6-12 months. This optimism is based on strong industrial demand, particularly from the photovoltaic sector, and a slight contraction in mine output. The anticipated Federal Reserve rate cuts later this year are expected to weaken the dollar, potentially boosting silver prices. UBS suggests that investors less bullish on silver consider selling downside risks from $26.1/oz over three months.