Silver prices have now soared above the US$100 mark as the precious metals market enters uncharted territory. The breakthrough has been propelled by escalating geopolitical tensions and safe haven asset appeal.
This milestone in the commodity’s exponential rally has sent certain silver stocks flying while ETFs have observed modest gains.
Leading the standout performers is Hycroft Mining Holding Corporation (NASDAQ: HYMC) (FRA: R5A), a company that soared by more than 46 per cent week-over-week last week to hit a new all-time high of US$50.65 per share at market close on Friday. Hycroft stock rose by almost 8.5 per cent on Friday alone as silver (Ag) ascended to US$103 per ounce and gold neared the US$5,000 mark.
The precious metal operator’s rally was amplified by a recent high-grade silver discovery at its flagship project, announced in late December. Drilling confirmed the continuity of high-grade silver in one of the known systems with intercepts grading up to 1,545 grams per tonne Ag.
Similarly, Americas Gold and Silver Corporation (TSE: USA) (NYSEAMERICAN: USAS) (FRA: SZ71) saw week-on-week gains in excess of 43 per cent by the time Friday trading concluded. These gains were underpinned by precious metal pricing developments and record production at the company’s Cosalá operations in Mexico. Americas produced a record 463,000 ounces in Q4 alone from the site.
Moreover, Iamgold Corp (TSE: IMG) (NYSE: IAG) (FRA: IAL) jumped up 22 per cent last week to a 14-year high. In addition to silver’s rally, the gains can be linked to the precious metals producer meeting its production guidance of 765,000 gold ounces last year. IAMGOLD is primarily gold-focused but produces byproduct silver.
Beyond mining company stocks, certain ETFs also observed modest momentum. The iShares Silver Trust (NYSEARCA: SLV), the largest physical silver exchange traded fund, saw gains in excess of 5.5 per cent during after-hours trading on Jan. 23 as silver ascended to the three-digit mark. Furthermore, the abrdn Physical Silver Shares ETF (NYSEARCA: SIVR) rose by 6.6 per cent on Friday.
🚨Silvery Insanity Continues
Silver Futures hit 109$+
Gold 5K+
Just like stocks when they break 100 Psych see parabolic move same happening to Silver$SLV ETF at 99.20$ ,all eyes on $SLV 100 now!No one knows when insanity will end!
Silver & Gold Investors Happy pic.twitter.com/6YOv6Pw68M— Ripster (@ripster47) January 26, 2026
Read more: NevGold Corp. advances toward gold-antimony resource with expanded Nevada drilling
Analysts offer mixed 2026 predictions, but most remain positive
Going forward, sentiment about silver pricing in 2026 varies. Many bullish speculators see more room to run throughout this year, but others say it’s a bad time to buy the metal after its already immense gains in recent months.
Market analyst Phillip Streible, for instance, thinks silver is bound for US$150 per ounce. Furthermore, commodities research firm CPM Group has emphasized that robust fundamentals should keep the precious metal well above US$100 this year.
Kitco News has echoed this positive sentiment and has highlighted persistent investor intrigue in hard assets like gold and silver.
However, naysayers warn that buyers have overbought the commodity and that a major correction could arrive soon. These include technical analyst Avi Gilburt and Roukaya Ibrahim, Chief Commodity Strategist and Quebec-based market analytics firm BCA Research.
While many believe that the rally will persist amid global turmoil, others recommend selling and capitalizing on gains before silver reverses course.
Your silver coin that was worth $29 last year is now worth a record $107 today.
This is not “normal” market behavior. pic.twitter.com/3UZsKCB6d8
— Stocks World (@anandchokshi19) January 26, 2026
Read more: NevGold’s latest discovery represents near term antimony production potential
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