China holding it back to raise the price.
Trump will change course…
Be careful sinking too much into silver right now.
As of January 6, 2026, silver prices are trading in the $78–$82 per ounce range, with spot prices reported around $78.54 to $81.97 across major platforms and exchanges. This extends the remarkable rally from 2025, when silver posted gains of 142–168%, its strongest annual performance on record.Key Reasons for the Ongoing RiseThe price surge is fueled by a potent mix of chronic supply shortages, record industrial demand, new export restrictions, and broader macroeconomic tailwinds. Here's the core breakdown:Structural Supply Deficits and Tightening Global Availability
The silver market has faced deficits for five straight years (2021–2025), with demand exceeding mine supply and recycling by 95–200 million ounces annually. This cumulative shortfall (nearly 820 million ounces) has drained inventories, and deficits are projected to continue into 2026, albeit potentially narrower. A pivotal development isChina'snewexportlicensingsystem, effective January 1, 2026—limiting exports to just 44 approved companies (up slightly from prior but still restrictive). China dominates 60–70% of global refined silver production, and these controls have immediately reduced overseas supply, amplifying physical tightness and contributing to early-2026 price spikes.
Explosive Industrial Demand in Green Tech and Electronics
Industrial applications now drive over 50–60% of silver consumption, reaching record levels in 2025. Silver's superior conductivity makes it essential and largely irreplaceable in: Solar photovoltaics (PV): Demand is booming amid global renewable expansions (e.g., EU mandates, massive projects in India and elsewhere).
Electric vehicles (EVs): Each EV uses 25–50g of silver (vs. 15–28g in traditional vehicles), with global sales surging.
AI data centers, 5G, and electronics: Rising power and tech needs further accelerate usage.
Forecasts show this demand growing strongly through 2030, with solar and EVs as the primary engines.
Safe-Haven and Investment Buying
Silver's dual precious/industrial nature attracts flows amid geopolitical risks (e.g., ongoing conflicts, US sanctions) and economic uncertainty. Persistent inflation above targets, plus ETF and physical inflows, have bolstered prices.
Favorable Monetary and Macro Backdrop
Anticipated Federal Reserve rate stability or cuts in 2026 lower the cost of holding non-yielding assets. A softer US dollar improves accessibility for global buyers, while broader liquidity trends support precious metals.
This setup has propelled the 2025 momentum into 2026, with analysts generally bullish—many eyeing $100+ per ounce amid ongoing fundamentals, though volatility remains likely. Risks include a sharply stronger dollar, moderated industrial growth, or policy shifts, but the structural drivers point to sustained elevation.
Watch Trump announce new mining operations in Nevada's Federal Land areas.
He did mention opening up Fed lands for couples to build homes and start new communities.
Bring back mining and you bring back small towns.
White House live streaming