If you haven’t checked your old coin collection or that silver bar in the safe lately, you’re in for a shock. Honestly, the silver market has gone absolutely wild. As of today, January 17, 2026, the price of silver per ounce right now is hovering around $90.88.
Just think about that for a second. A little over a year ago, we were looking at silver in the $30 range. We are currently witnessing an explosive, record-breaking run that has caught even some of the most seasoned Wall Street analysts off guard. Yesterday, we even saw it peak near an all-time intraday high of $93.54 before a slight cooling off.
It’s been a crazy week.
The Breakdown: What is the price of silver per ounce right now?
To get a real handle on the value, you have to look at the "spot price." This is the benchmark price for one troy ounce of .999 fine silver. While the $90.88 figure is the current global average, what you actually pay at a coin shop or an online bullion dealer is usually a bit higher due to "premiums"—the dealer's markup for minting and profit.
Here is a quick look at how the value stacks up across different weights at the moment:
- 1 Troy Ounce: $90.88
- 1 Kilogram: ~$2,921.86
- 1 Gram: ~$2.92
The momentum is staggering. Silver has climbed over 190% in the last 12 months. It’s not just a slow crawl; it’s a vertical sprint. If you bought a 100-ounce bar at the start of 2025, you’d be sitting on nearly $6,000 in profit today.
Why the sudden surge?
It isn't just one thing. It's a "perfect storm" of factors hitting the market all at once. For starters, we are in the fifth consecutive year of a massive silver supply deficit. We simply aren't mining enough of the stuff to keep up with how much the world needs.
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Mining output actually peaked back in 2016. Since then, ore grades in major mines in Mexico and Peru have been dropping. You can't just flip a switch and create a new silver mine; it takes a decade of planning. Meanwhile, the world's appetite for silver has shifted from jewelry to high-tech industrial necessity.
Industrial Demand is the Real Driver
Most people think of silver as "poor man's gold"—something you buy when you can't afford a gold bar. That’s a total misconception. Silver is actually a critical industrial metal.
You literally cannot build a modern green economy without it. Solar panels (photovoltaics) are a massive sink for silver because it's the most electrically conductive metal on Earth. As China, Europe, and the U.S. ramp up solar installations to meet 2030 climate goals, they are gobbling up hundreds of millions of ounces.
Then there’s the AI boom.
Data centers and AI hardware require specialized semiconductors and circuit boards. Silver is used in almost every high-end chip and memory package. Every time a new AI server farm goes live, a significant amount of silver is essentially "locked away" inside that hardware.
The Safe-Haven Factor
Of course, we can't ignore the "precious" side of the metal. With geopolitical tensions remaining high—specifically the ongoing uncertainty in the Middle East and renewed friction in South America—investors are terrified of currency debasement.
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When people get nervous about the dollar or inflation, they run to "hard assets." Silver is acting as a dual-threat: it’s an industrial powerhouse and a financial life raft. This is why it’s outperforming almost every other commodity on the market right now.
What the Experts are Predicting for 2026
Where does it go from here? That’s the $90 question.
Some banks, like HSBC, are a bit more cautious. They’ve suggested that the market might be "overstretched" and could see a correction back toward the $60 or $70 range later this year as supply chains stabilize. They think the current "everything rally" is a bit of a bubble.
On the flip side, you have analysts like Philippe Gijsels at BNP Paribas Fortis and veteran Michael Oliver who have been shouting from the rooftops about triple-digit silver. There is a very real path to $100 per ounce if the supply deficit doesn't break.
"We are entering price-discovery territory," says one technical analyst. "The $54 level was a ceiling for 13 years. Now that we’ve smashed through it, there are no historical reference points to stop the climb."
It's sorta like watching a dam break. Once the pressure gets too high and the structure fails, the water just keeps rushing until it finds a new level.
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Common Misconceptions About Buying Silver
If you’re looking at the price of silver per ounce right now and thinking about jumping in, don't just buy the first thing you see.
- Spot vs. Physical: You will almost never buy silver at the exact spot price. If silver is $90.88, expect to pay $95 or $98 for a physical American Eagle coin. The "premium" covers the cost of the minting, shipping, and the dealer's cut.
- The Gold/Silver Ratio: Historically, this ratio (how many ounces of silver it takes to buy one ounce of gold) sits around 50 or 60. Right now, even with silver at $90, the ratio is still relatively high because gold is also smashing records near $4,600. This suggests to some experts that silver is still "cheap" compared to its big brother.
- Liquidity: Silver is very liquid, but selling a 1,000-ounce bar is much harder than selling ten 1-ounce coins. Think about how you'll eventually "exit" your position before you buy in.
Practical Steps for Investors
Look, silver is incredibly volatile. It can drop 5% in an afternoon and gain it back by breakfast the next day. If you’re serious about tracking the market, here is what you should do:
Monitor the Lease Rates. When lease rates for physical silver spike (they recently hit 5%), it means there is a genuine shortage of physical metal in the vaults. This is a much better indicator of a real rally than just watching the paper futures market.
Diversify Your Holdings. Don't put your entire life savings into silver. Most experts suggest a 5% to 10% allocation to precious metals.
Watch the Fed. Silver loves low interest rates. If the Federal Reserve follows through with the two projected rate cuts later in 2026, it could provide the fuel needed to push silver past that $100 milestone.
Verify Your Source. With prices this high, the market is flooded with fakes. Only buy from reputable dealers like JM Bullion, APMEX, or local shops with a long history. If a deal looks too good to be true—like someone offering silver at "wholesale" $70 an ounce when the market is at $90—it’s a scam.
The bottom line? Silver is finally having its moment in the sun. It’s no longer just the shiny stuff in your grandmother’s silverware drawer; it’s the metal of the future, and the price is reflecting that reality.
Keep a close eye on the daily fluctuations, because in a market this tight, the next big jump could happen overnight. Stay informed by checking live spot charts multiple times a day if you're actively trading, and always prioritize physical possession if you're looking for long-term security.