Honestly, if you told someone two years ago that we’d be staring at a silver ticker showing ninety bucks an ounce, they’d have laughed you out of the room. It sounds like a fever dream. Yet, here we are on January 17, 2026, and the silver price per ounce right now is hovering around $90.88.
It’s wild.
We just watched the metal pull back slightly from a staggering peak of nearly $94 earlier this month, but the "easing" everyone is talking about is relative. When you're up nearly 200% over the last year, a two-dollar dip feels like a sneeze in a hurricane.
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The Chaos Driving the Silver Price Per Ounce Right Now
The market isn't just behaving like a commodity; it's behaving like a panicked escape room.
Why?
Well, for starters, the Federal Reserve is in a weird spot. There’s this massive cloud of uncertainty around Jerome Powell’s seat. Reports of criminal investigations and tension with the Trump administration have sent the dollar into a bit of a tailspin.
Investors hate drama.
When the central bank looks shaky, people run to "hard" assets. It’s the classic safe-haven play, but silver is different this time because it isn't just acting as a "poor man's gold." It’s actually outperforming gold on a percentage basis because the market is so much smaller. A little bit of money moving into silver creates a massive wave.
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The Geopolitical Tinderbox
Geopolitics are playing a massive role, too. We have escalating tensions with Venezuela and ongoing protests in Iran that have everyone on edge.
When things get messy in Latin America or the Middle East, silver prices usually react. We’re seeing a "resource nationalism" trend where countries are tightening their grip on what they mine.
Mexico, which is basically the heart of global silver production, passed some regulatory changes recently that effectively chopped their output by 5%. You can’t just flip a switch and replace that much supply. It’s gone.
Why $100 Silver Isn’t a Meme Anymore
If you look at the fundamentals, the math is kinda terrifying for anyone shorting this metal.
We are currently in our fifth straight year of a silver supply deficit. The Silver Institute has been sounding the alarm for a while, but 2025 was the year the dam finally broke. Industrial demand is a beast that cannot be fed.
- Solar Panels: Photovoltaic demand has doubled since 2020.
- AI Data Centers: This is the new one. AI needs massive amounts of high-efficiency electrical contacts and thermal management—basically, silver.
- Electric Vehicles: An EV uses way more silver than your old gas-guzzler for its complex wiring and sensors.
Basically, the tech world is trying to build a future out of a metal that we aren't mining fast enough.
The Expert Split
Not everyone is a "to the moon" believer, though. Experts at HSBC have been more cautious, suggesting that the current silver price per ounce right now is fundamentally overvalued. They’re forecasting an average closer to $68 for the year once the "speculative fever" breaks.
On the other side, you have guys like Robert Kiyosaki and analysts at Citigroup eyeing $100 or even $175. It’s a massive gap.
One side sees a bubble; the other sees a long-overdue "repricing" of a strategic asset. Honestly, both could be right in different timeframes. Silver is notorious for these "face-melting" rallies followed by brutal 30% corrections.
What You Should Actually Do With This Information
If you’re looking at your portfolio and wondering if you missed the boat, you need a strategy that isn't based on FOMO.
Buying the top is a great way to lose sleep.
Most veteran traders, like those at Reliance Securities, are suggesting waiting for a "healthy" 5% to 10% dip before starting a new position. The volatility right now is high-octane stuff.
Don't go all-in at $90.
If you want exposure, look at physical bars or coins rather than high-leverage ETFs or futures. The "paper" market is getting squeezed, and margin requirements on the COMEX are changing so fast that retail traders are getting wiped out on small price swings. Physical metal doesn't have counterparty risk.
Check the charts for support levels around $80 to $85. If it holds there, the path to triple digits stays open. If it breaks below $73, we might be looking at a long, cold winter for the silver bugs.
Watch the US inflation data coming out later this week. It’s going to be the next big catalyst for whether the silver price per ounce right now holds its ground or takes a dive.
Keep an eye on the gold-to-silver ratio. It’s at its lowest point since 2013, which means silver is finally catching up to its big brother.
The most important thing to do today is audit your current holdings. If you've been holding since $25, taking some profit at $90 isn't "weak hands"—it's just smart business. If you're buying today, do it in small, disciplined increments.
Next Steps:
- Verify the current spot price on a live 24-hour ticker like JM Bullion or Kitco to see if the $90 support is holding.
- Review your portfolio's precious metals allocation; most experts suggest keeping it between 5% and 10% of your total net worth.
- Research local bullion dealers versus online platforms to compare the "premiums over spot," as these have spiked along with the price.