Silver prices surged above $100 per ounce for the first time in history on Friday, marking a key milestone in a broader rally in precious metals.
Gold also climbed sharply, trading close to $5,000 per ounce, with prices earlier reaching near record highs.
Traders and analysts say strong demand for safe-haven assets is pushing prices higher. Geopolitical uncertainty and concerns about global economic policy have made investors seek metals seen as stores of value.
Copper, another key industrial metal, also rose strongly, with prices surpassing $13,000 per ton and nearing previous record levels.
Market experts point to several factors behind the surge. These include continued demand from industry, weakening currencies in some markets, and expectations that central banks could cut interest rates later this year, which can boost demand for metals.
The rally follows strong gains in 2025, when silver and gold both reached multi‑year highs. Some financial firms have raised their forecasts for 2026, betting that metals prices will continue to climb.
Investors are watching closely to see whether the trend holds, as metals like gold and silver play a major role in portfolio strategies during times of economic tension.
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