iShares MSCI Global Silver and Metals Miners ETF

SLVP

Market cap $1.02B

Jim Wyckoff has spent over 25 years involved with the stock, financial and commodity markets. He was a financial journalist with the FWN newswire service for many years, including stints as a reporter on the rough-and-tumble commodity futures trading floors in Chicago and New York.

Trading exchange operator CME Group made it more expensive in recent weeks for people to trade silver futures contracts. That doesn't seem to bother investors who have lifted prices up to their highest levels on record, with many setting their sights on the psychologically important $100-an-ounce mark.

Jim Wyckoff has spent over 25 years involved with the stock, financial and commodity markets. He was a financial journalist with the FWN newswire service for many years, including stints as a reporter on the rough-and-tumble commodity futures trading floors in Chicago and New York.

Silver surges to record $92.25, up 28.77% in 2026 as softer CPI data and Iran tensions fuel speculative buying. Momentum points to $100 target soon.

This is a developing story. Check back for updates.

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Metals markets are searing hot in early 2026 trading. But there are reasons to be cautious.

Spot silver hit $90 for the first time on Tuesday, and extended gains into Wednesday's trading session. In pre-market trade, U.S.-listed shares of silver miners moved higher, tracking gains seen in the European trading session.

Precious metals are off to strong starts this year, building on dramatic rallies in 2025, with the prospect of a criminal indictment against Federal Reserve Chair Jerome Powell reviving worries about the monetary authority's independence. Silver broke above $90 an ounce for the first time and gold flirted with a record high.

The race to $100 for silver is increasingly becoming a reality rather than a fever dream. Silver prices breached the $90-per-ounce for the first time ever on Wednesday as the rally continued amid expectations of further interest rate cuts by the US Federal Reserve in 2026.