Silver is doing something weird today. If you've been watching the tickers this morning, Friday, January 16, 2026, you probably saw the numbers jumping around like a caffeinated squirrel.
Today's price of silver is hovering right around $89.54 to $90.06 per ounce. It's a slight dip from the madness we saw earlier in the week, but honestly, it’s still sitting at levels that would have seemed like science fiction just two years ago. We are talking about a metal that spent ages stuck in the $20 range, now fighting to keep its head above $90.
Silver fell about 3% today. Big deal? Kinda. But when you look at the fact that it’s up nearly 200% compared to this time last year, a $2 drop feels more like a breather than a collapse.
The Chaos Behind the $90 Silver Price
Why is silver so expensive right now? It isn't just one thing. It's a "perfect storm" of industrial desperation and investor FOMO.
Basically, the world is trying to go green, and silver is the secret sauce. You can't build a high-efficiency solar panel or a modern EV battery without it. China recently put the squeeze on silver exports to protect its own tech sector, and that sent everyone into a tailspin.
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Think about it. Every single electric vehicle hitting the road right now has about one or two ounces of silver tucked away in its guts. With millions of these cars being produced, the math just doesn't add up for the miners. They can't pull the stuff out of the ground fast enough.
Most silver is actually a "byproduct." It's what you find when you're looking for copper or lead. So, even if the price of silver hits $100, a copper miner isn't necessarily going to double their production just to get a little extra silver. This creates a massive supply hole that won't be filled anytime soon.
What Experts are Arguing About
Not everyone thinks $90 is the new floor. I was reading a note from Citi recently where they suggested silver might actually retreat back toward $42 if things cool down.
On the flip side, you have the bulls. Some analysts at Bank of America have been eyeing a target of $65 for a while, which we’ve already smashed through. Now, the chatter in the trading pits is all about whether we see $100 before the end of the year.
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Here is the current breakdown for the day:
- Spot Price per Ounce: ~$90.03
- Price per Gram: ~$2.89
- Price per Kilogram: ~$2,895.50
If you're buying physical coins or bars today, don't expect to pay those "spot" prices. Premiums are still high because the physical market is tight. If you walk into a local coin shop, you're probably going to pay $3 to $7 over spot for a basic 1-ounce round.
Is It Too Late to Buy?
That’s the million-dollar question. Or the $90 question.
If you're a long-term believer in the "Green Revolution," today's price of silver might still look cheap. But if you’re looking for a quick flip, be careful. Silver is notoriously volatile. It's nicknamed "The Devil's Metal" for a reason—it can go up 10% in a week and give it all back by Tuesday.
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Inflation is still a thorn in everyone's side, and the national debt is sitting at a staggering $38 trillion. When people lose faith in paper money, they run to "hard assets." Silver fits that bill perfectly because it's more affordable for the average person than gold. While gold is pushing past $4,600 an ounce, silver still feels accessible to the regular guy.
Actionable Next Steps for Silver Watchers
If you are tracking today's price of silver to make a move, don't just stare at the spot price.
First, check the premiums at at least three different online dealers like SD Bullion or JM Bullion. The "spread" between the spot price and what you actually pay is where most people lose money immediately.
Second, watch the Gold-Silver Ratio. Historically, this ratio sits around 15:1 or 30:1. Right now, it's hovering in the 50s. That tells us silver is still technically "cheaper" than gold relative to historical norms, even at $90.
Third, keep an eye on the Fed. If they decide to hike interest rates to fight inflation, precious metals usually take a hit because they don't pay a dividend. If they keep cutting, silver probably has more room to run.
Stop looking at the minute-by-minute charts if you aren't a day trader. It’ll drive you crazy. Instead, focus on the total weight of your holdings and the long-term industrial demand. The transition to solar and EVs isn't stopping tomorrow, and until someone finds a way to build a semiconductor without silver, the demand remains structural, not just speculative.