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Silver Surges Past $100: A New Era for Metals
23 Jan
Summary
- Silver hit a record $100.29 per ounce as of January 23, 2026.
- Industrial demand and global supply shortages drive silver's rally.
- Gold also reached a new peak of $4,967 per ounce.
Silver prices achieved a historic milestone on January 23, 2026, breaching $100 per ounce and reaching an intraday high of $100.29. This represents a remarkable 40% increase in just the first three weeks of 2026. Gold simultaneously set a new peak at $4,967 per ounce, indicating a broader trend in precious metals.
The rally is driven by a confluence of factors, including significant industrial demand, particularly from AI data centers, and persistent global supply shortages. China's new export restrictions on silver have further constrained availability, draining inventories to multi-decade lows.
Geopolitical tensions and a global pivot towards hard assets are also bolstering prices. As the Federal Reserve prepares for interest rate cuts and BRICS nations diversify reserves away from the U.S. dollar, demand for physical bullion is strengthening.
Major financial institutions like Goldman Sachs have revised their forecasts upward, with gold now expected to reach $5,400 per ounce by year-end 2026. This sustained performance suggests a structural shift, moving precious metals to the forefront of the global investment landscape.
