Silver Breaks $100 Per Ounce: Historic Rally Signals Continued Upside Potential

Source: CryptoNewsNet Original Title: Silver Blows Past $100 in Historic Repricing Escalade Original Link: Silver surpassed the historic $100 mark on Friday morning, with COMEX March futures reaching $101.165 per ounce. This milestone represents the first time the white metal has achieved this price level, setting a new benchmark for the precious metals industry.

Historic Rally Gains Momentum

The surge is part of a remarkable rally that has driven silver from $30 in April to today’s prices, representing gains exceeding 200% in less than a year.

Key Drivers Behind the Rally

Analysts have identified several factors supporting this escalation:

• Increased industrial demand from Chinese investors, where silver commands a premium of over $14 per ounce
• Ongoing supply deficits and slow production increases
• Geopolitical concerns including developments in Venezuela and Iran, the Russia-Ukraine conflict, and unpredictable economic policies
• Flight to safety as investors hedge using precious metals as financial tools

Expert Outlook

Josh Philip Phair, Founder and CEO of Scottsdale Mint, views this movement as part of a broader repricing that should have occurred years ago:

“The reality is that these prices should have been seen years ago, and this new price discovery is simply finding new zones of valuation. IMO, it’s not stopping here as a longer-term outlook.”

Earlier forecasts indicate that silver could reach $200 to $300 by the end of this rally, suggesting continued upward momentum in the precious metals market.