The silver market experienced a notable upswing on February 24, 2026, with prices reaching a three-week high. Silver opened today at $84.61 per ounce and closed at $87.84, marking an impressive 3.8% increase. This rise underscores the precious metal’s role as a safe-haven asset in times of geopolitical and economic uncertainty.
Key Data Points
Today’s trading session saw silver achieve a daily high of $87.84 per ounce, while the low was recorded at $84.61. The closing price reflects a significant rally from the previous day’s close of $86.31. Over the past year, silver has gained $47 per ounce, up from $32.94.
The gold/silver ratio stands at 59:1, indicating a compression from levels above 80 seen a year and a half ago. This shift suggests a potential structural change in the precious metals market, with silver outperforming gold by approximately 70% since the Paris 2024 Olympics.
Market Drivers
Several factors contributed to today’s surge in silver prices. Renewed tensions between the U.S. and Iran, along with uncertainty surrounding U.S. tariff policies, have driven investors towards safe-haven assets like silver. The recent tariff hike by former President Trump, from 10% to 15%, has added to market volatility, further elevating demand for precious metals.
Industrial demand for silver continues to grow, particularly from the solar and electronics sectors. This increased demand, coupled with supply constraints, has fueled the upward trajectory in silver prices. Despite a decline of 14.29% from the February 1 peak, silver remains a favored choice among investors looking to hedge against economic instability.
Outlook and Analysis
Looking ahead, silver prices may continue to be influenced by geopolitical developments and economic data releases. Analysts suggest that if U.S.–Iran tensions persist and tariff uncertainties remain unresolved, silver could maintain its upward momentum. However, any shifts in monetary policy or economic conditions could alter this trajectory.
In the Indian market, silver prices have surged to ₹3,00,000 per kilogram, reflecting a 9% single-session gain. This increase highlights the global appeal of silver as a hedge against currency fluctuations and economic uncertainties.
COMEX Inventory and Industrial Demand
While specific data on COMEX silver inventories were not available, industry reports suggest that supply constraints continue to play a role in supporting higher prices. The industrial demand, driven by applications in solar energy and electronics, remains a significant factor in the market dynamics for silver.
It is crucial for investors to monitor these factors closely, as they could influence silver’s performance in the coming months. As always, past performance does not guarantee future results, and market conditions can change rapidly.
Focus Keyword: Silver Market Report
Investment Disclaimer: This article is for informational purposes only and does not constitute financial, investment, or trading advice. The content should not be construed as a recommendation to buy, sell, or hold any security or commodity. Past performance is not indicative of future results. Mining investments carry significant risks, including the potential loss of principal. Always conduct your own research and consult with a qualified financial advisor before making investment decisions. MineListings.com and its authors may hold positions in securities mentioned in this article.
