January 28, 2026 | 07:54 pm
TEMPO.CO, Jakarta - With 2026 still in its opening month, the silver price has extended its strong rally, climbing to US$111.71 per ounce as of January 27. This surge builds on a breathtaking 2025, when silver ended the year up nearly 150%, repeatedly setting record highs.
What’s Driving Silver’s Rally?
A combination of geopolitical uncertainty, inflation concerns, and shifting monetary policy fuels demand for precious metals. Federal Reserve rate cuts, a weaker U.S. dollar, rising global debt, and lingering tariff worries have all also supported the climb in silver prices.
According to Investopedia, the rally has gained further momentum amid recent geopolitical flashpoints, including the U.S. arrest of Venezuelan president Nicolás Maduro and renewed tensions in the Middle East. On top of that, supply-side pressures are also playing a role. Heavy buying last year led to large physical stockpiles accumulating in U.S. warehouses, disrupting global silver flows and leaving the traditional trading hub in London short on supply.
How Silver Fits into a Portfolio
Historically, silver has been valued as a store of value. It is suited to preserve purchasing power, particularly during inflationary periods. According to Fortune, compared with gold, silver tends to be more volatile due to its industrial uses, which can amplify price swings during shifts in demand.
Will the Rally Continue?
Whether the rise in silver prices continues depends largely on how long investors treat this metal as a major trending macro asset. If more investors add silver as a regular part of their overall asset portfolio, which seems to be the current trend, then silver prices could potentially continue to rise.
Read: List of Top 10 Countries That Produce Silver, Including China
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