Silver has surged in 2026, hitting $121 per ounce in January, tripling in value over the past year. Despite dropping to $79, it remains 7% higher year-to-date and 120% above last year’s level. Speculators, macro hedgers, and momentum funds have crowded into the market, divided between a collapse back to $50 and a bullish camp predicting $150.

Citi predicts a new pricing regime for silver, with triple-digit quotes needed to rebalance the market due to global liquidity, currency concerns, and supply tightness. Analysts see Chinese buying as a key factor in the market’s reconfiguration, with strong hands holding onto metal as demand outstrips supply despite historic rallies.

Amidst a parabolic climb, silver futures collapsed over 30% in a day after President Trump’s Fed chair announcement and a rise in the U.S. Dollar Index. The metal, once below $20 in 2023, soared to over $95 in January 2026, nearing $100 and analysts predict a path to $150 as part of a macro barometer.

Structural demand in AI, electric vehicles, and solar panels is tightening silver supply. A $150 call on silver represents a challenge to the market’s ability to withstand macro shocks, with safe-haven demand, Asian buying, and tight supply likely keeping prices elevated. The most probable scenario is a wide three-digit range before settling at a higher level.

Read more at Yahoo Finance: Why This Analyst Thinks $150 Is Just Around the Corner