Silver prices have experienced significant volatility in early 2026, currently trading at approximately $91.46 per ounce as of February 4, 2026. This follows a historic "rollercoaster" period where prices surged past $120 in late January 2026 before a sharp correction.
Current Market Position
Spot Price: $91.46 (up +9.79% today).
Day Range: $83.00 – $91.76.
52-Week Range: $29.12 – $121.79.
Year-to-Date Performance: Roughly +53% gains in 2026 alone.
Silver (SIW00)
US$91.46
9.79% today
As of 4 Feb, 7:00 pm GMT+5 • Disclaimer
4 Feb 2026 10:00 am - 7:00 pm
Open
84.92
Prev close
83.30
High
91.75
Vol
44008
Low
83.00
Open interest
86414
Recent Trends and Volatility
The silver market in early 2026 has been defined by extreme speculative activity and shifting sentiment.
The "Flash Crash": In late January 2026, silver plummeted from all-time highs near $121 to the $70s in just two days due to forced liquidations.
Recent Recovery: Since February 2, 2026, prices have rebounded by over $10, supported by safe-haven demand following geopolitical tensions in the Arabian Sea.
Pakistan Market: Local rates as of early February 2026 hover around Rs. 12,000 per tola.
2026 Forecasts
Analysts remain divided on silver's trajectory for the remainder of the year:
Bullish Case: Some experts predict a move toward $110-$120 if industrial demand for green tech persists and investment flows accelerate.
Bearish Case: JPMorgan has warned of a potential "crash" back to $50 later in 2026, citing overbought conditions and potential inventory rebuilding. #XAI $XAG
