24.01.2026 08:20
Silver surpassed $100 per ounce for the first time in history due to increasing industrial demand and safe-haven purchases, while gold also set a record at $4,973.
Silver prices broke a historic record this evening. The price of silver per ounce in futures contracts traded on the New York Mercantile Exchange (COMEX) has risen above the $100 level for the first time.
SUPPLY TIGHTENED, DEMAND SOARED
Two main factors have emerged behind the sharp rise in silver. The strong increase in industrial demand and investors' preference for silver as a safe haven have pushed prices up. The indispensable role of silver as a raw material in renewable energy, electric vehicles, electronics, and the semiconductor sectors has significantly increased demand.
PRODUCTION REMAINS INSUFFICIENT
The fact that silver production is largely a byproduct of other metals makes it difficult for supply to keep pace with demand. This situation creates a lasting pressure on prices. Experts point out that this tightening in the supply-demand balance has triggered record levels.
SAFE HAVEN EFFECT STRENGTHENED
Geopolitical risks and global economic uncertainties have directed investors towards silver along with gold. The Federal Reserve's initiation of interest rate cuts has also been among the important factors supporting silver prices.
GOLD ALSO REACHED A PEAK
The rise in silver has also reflected on gold prices. The price of gold per ounce has reached $4,973, hitting an all-time high. While stocks on Borsa Istanbul showed an upward trend, limited increases were observed in the dollar and euro.