Silver is doing something weird right now. If you haven't checked the charts this morning, the current price per ounce for silver is $90.88. Honestly, that sentence would have sounded like absolute insanity just twelve months ago.
We are living through a massive price discovery phase. On January 14, 2026, silver hit an all-time high of $93.77. It basically shattered a ceiling that had been in place since the Hunt Brothers tried to corner the market back in 1980. But here’s the thing: it didn’t just touch that number and fall off a cliff. It’s lingering. Even with a slight 2.12% dip today, the metal is holding onto gains that have caught most retail investors completely off guard.
Why the current price per ounce for silver is so high
Most people think silver follows gold like a little brother. That’s usually true, but lately, the "little brother" is the one doing the heavy lifting. In 2025, silver surged over 140%. Compare that to gold’s 65% gain, and you start to see the divergence.
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The driver isn't just "fear" or people buying coins for their basements. It’s industrial. Silver is the most conductive metal on the planet. You can't build a high-efficiency solar panel or an electric vehicle (EV) without it. Because silver is often mined as a byproduct of copper and zinc, miners can't just "turn on the tap" because the price went up. They have to wait for those other mines to expand. This has created a structural deficit that's been running for five years.
The 2026 Supply Squeeze
There are some specific things happening this January that are keeping the floor under the current price per ounce for silver.
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- China’s Export Curbs: In a retaliatory move against U.S. tariffs, China began restricting silver exports earlier this month. Since they are a massive hub for refined silver, this sent shockwaves through the London and New York exchanges.
- London Inventory Lows: Inventories in the LBMA (London Bullion Market Association) vaults have hit levels that analysts describe as "critically thin." When there isn't enough physical metal to satisfy the paper contracts, prices spike.
- The 50:1 Gold-to-Silver Ratio: For years, the ratio was stuck near 80:1. This week, it touched 50:1. That basically means silver is finally catching up to its "fair value" relative to gold.
What experts are saying about the $100 target
If you listen to the folks at Goldman Sachs, they’re looking at a range of $85 to $100 for the rest of 2026. Citigroup is a bit more cautious, eyeing a $60 to $72 average, but they’ve admitted that a "spike scenario" could see the metal hit $110 if supply tightness worsens.
Then you have the outliers. Some algorithm-based models like CoinCodex are throwing out numbers that look like typos—scenarios where silver could test $200 or more by the end of the year. While that sounds great for your portfolio, it would likely mean the global economy is in a state of absolute chaos. Most serious traders are just watching the $92.08 resistance level. If we break and hold above that, the path to $100 is wide open.
The Fed Factor
The Federal Reserve ended its "quantitative tightening" in late 2025. This was a massive pivot. Lower interest rates generally make non-yielding assets like silver more attractive because you aren't "missing out" on interest from a bank account as much. With the Fed signaling more cuts in 2026, the dollar has softened, giving silver a natural tailwind.
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Is it too late to buy?
Kinda. Sorta. Maybe not.
If you're buying today at $90.88, you are buying at the top of a very steep mountain. The risk of a "flush out" is high. In fact, margin requirements were recently raised on the COMEX to $25,000 per contract. That’s a move designed to force out smaller, leveraged players and cool the market down.
But if the "Green Revolution" continues and the U.S. keeps silver on its list of critical minerals—which it officially did for the first time recently—the long-term demand isn't going anywhere. We aren't just looking at a speculative bubble; we're looking at a fundamental revaluation of a strategic asset.
Actionable insights for silver investors
- Watch the Shanghai Premium: If silver is trading significantly higher in China than in New York, it usually means physical demand is pulling the price up.
- Check the RSI: The Relative Strength Index is currently hovering near 66. Anything over 70 usually means the metal is "overbought" and due for a pullback.
- DCA is your friend: Instead of dumping everything in at $90, many experts suggest Dollar Cost Averaging. Buying smaller amounts over several weeks can help mitigate the risk of a sudden 10% drop.
- Mind the "Paper vs. Physical" gap: Premiums on physical coins (like Silver Eagles) are often $5 to $10 above the spot price right now because of the shortage.
Keep an eye on the $86 support level. If the current price per ounce for silver falls through that, we might see a fast trip back down to the $70s. However, as long as the geopolitical tension in the Middle East remains high and the supply deficit persists, $100 silver is no longer just a "prepper" fantasy—it’s a very real mathematical possibility for 2026.
To stay ahead of the next move, monitor the weekly closes above $92.08 and track the CME margin updates, as these regulatory shifts often precede the biggest price swings. Check for updates on the U.S. Strategic Silver Reserve discussions, which could add a new layer of sovereign demand to an already tight market.