Silver trades at $90.13 at the time of writing, posting a minimal 24-hour gain of 0.08% after a quiet session and 12.92% in the last 7 days. The metal remains close to record territory following weeks of strong performance that placed it among the top-performing precious metals. Prices have stayed elevated despite sharp intraday swings.
That resilience keeps silver firmly in focus. Is the market preparing for another leg higher?
Schiff Flags Strength Despite Pullbacks
Precious metals investor Peter Schiff highlighted renewed strength across mining stocks after an early sell-off tied to a pullback in gold and silver. He noted that many miners closed the session with solid gains even as gold ended down more than $30 and silver fell over $3 intraday.
Schiff stated that he expects a strong rally in the coming week. His comments reinforced attention on silver’s broader trend rather than short-term price noise.
Schiff also reiterated his long-standing skepticism toward Bitcoin’s performance, urging investors to focus on precious metals instead. According to prior comments reported by Coinpaper, Schiff described the current phase as the early stage of what he called a historic bull market in precious metals.
Drivers Behind Silver’s Recent Surge
Silver has posted sharp gains after stabilizing above the $80 psychological level. Earlier trading sessions saw the metal near $83.59, close to its previous all-time high of $85.94, before momentum carried prices higher. Over the past year, silver prices have risen roughly 160%, supported by a mix of macroeconomic and sector-specific forces.
Source: X
Geopolitical uncertainty continues to support safe-haven demand. At the same time, expectations for U.S. Federal Reserve rate cuts remain a key factor. Markets continue to price in potential easing during 2026, with upcoming labor and inflation data set to guide expectations. A weaker dollar has also supported precious metals pricing.
Industrial demand plays a growing role. Silver remains critical for electric vehicles, renewable energy systems, and electronics manufacturing. That structural demand contrasts with purely speculative flows and adds depth to the current rally.
Market Reaction to Global Events
Recent geopolitical developments added another layer to market behavior. U.S. military intervention in Venezuela and the capture of President Nicolás Maduro did not trigger a traditional flight to safety. Instead, stocks, Bitcoin, and precious metals all advanced. This unusual alignment suggested a short-term “rally across the board,” reflecting broad risk appetite rather than fear-driven flows alone.
Meanwhile, the CME has prepared for potential market stress by implementing updated margin rules as volatility across precious metals increased. Those measures signal heightened awareness of rapid price movements as silver trades near historic levels.
Can Silver Reach $100 per Ounce?
The $100 level remains a key psychological target. In the near term, geopolitical risks linked to Venezuela continue to support safe-haven demand. President Donald Trump has indicated that further military actions remain possible if U.S. demands go unmet, keeping uncertainty elevated.
From a longer-term perspective, lower interest rates would favor non-yielding assets such as silver by reducing opportunity costs. Continued industrial demand, combined with constrained mining supply, could support higher prices. For silver to reach or exceed $100, sustained physical demand, steady investment flows, and limited supply response would need to align.
More extreme scenarios, such as runaway inflation, financial instability, or a genuine physical shortage, could push prices well beyond that level. Analysts continue to monitor the balance between paper markets and physical availability.
Technical Structure Supports Near-Term Upside
Short-term technical analysis shows silver holding above key demand levels. On lower timeframes, market structure has shifted bullish, with prices remaining above the $88.60 zone. Analysts tracking these levels point to potential upside targets near $91.80 and $93.00 if support holds. Pullbacks continue to appear corrective rather than trend-breaking.
Source: Tradingview via X
As silver trades near record highs, volatility remains elevated. The market now watches whether momentum and macro forces can sustain the move. The next sessions may provide clarity.