Silver price nears $90 as record run continues

Spot silver reached a record $89.05 an ounce and is about 12% higher year-to-date, after finishing 2025 with roughly a 140% gain.

Spot silver rose to a fresh record of $89.05 an ounce on Tuesday and is nearing the $90 mark. The metal has continued a strong run following a large gain in 2025. Last year ended with about a 140% increase, driven by heavy inflows and safe-haven demand. Market participants also cite a long-running structural deficit and silver’s inclusion on the US critical minerals list as supporting factors. Notable details: - Spot silver set an all-time high of $89.05 per ounce and is up roughly 12% year-to-date. - Silver finished 2025 with about a 140% gain, one of its strongest annual performances on record. - Drivers noted in reporting include large inflows into precious metals, geopolitical uncertainty, and a persistent structural market deficit. - Silver’s listing as a US critical mineral and tariff-related flows into the US market were reported as contributing to supply tensions and a historic squeeze in London. - Analysts and industry groups cited in coverage expect continued momentum in 2026, with some forecasting three-digit prices and others warning of potential volatility and later-year corrections. Summary: Analysts and market commentators reported that several bullish factors remain in place, including investor inflows, supply constraints and geopolitical uncertainty, which have helped push silver to new highs. Forecasts differ on the scale and timing of further gains and some firms warn of possible volatility or corrections later in the year.