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Silver Surpasses $100, Gold Nears $5,000

Published January 23, 2026, 20:02
Silver Surpasses $100, Gold Nears $5,000

Silver prices have hit a new record high, surpassing $100 per ounce, while gold is approaching its all-time high of $5,000 per ounce. This surge is attributed to increased demand for precious metals as a safe haven investment amid the uncertainty caused by the policies of US President Donald Trump. Silver has doubled in price in just 3.5 months, also benefiting from its use in solar panels, electronics, and jewelry. Specifically, at 7:30 PM Cyprus time, silver was trading at $101.12 per ounce, up more than 5%, while gold was at $4,985.5 per ounce, up 1%. The year-to-date performance of the metals is impressive, with silver gaining 41% and gold 15%. Other metals are also experiencing significant gains, including platinum (up 32% to $2,758 per ounce) and lithium (up 44% to 170,000 Chinese yuan per ton). Analysts highlight the particular dynamism of silver, which is exceeding expectations. The limited supply of silver, combined with increasing demand for use in data centers for artificial intelligence, is contributing to the further rise in its price. The previous record for silver was on October 9, 2025, at $50 per ounce, while in 1980 it reached even higher prices.