Silver finally had its moment on October 9 as it surged past the $50 per ounce following in gold’s powerful rally. Spot silver gained 2.7 percent to $50.19 per ounce. This is silver’s strongest run in decades, fueling speculation that more gains could be on the horizon, reported Reuters.
Gold prices, meanwhile, eased slightly after touching a record high earlier in the week but still traded above the historic $4,000 mark. Despite profit-booking, global uncertainties, rate-cut expectations, and geopolitical tensions continue to support the demand for precious metals.
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Why silver is surging?
Analysts told Reuters that silver is benefiting from a combination of things. This includes gold’s momentum. With the yellow metal climbing more than 54 percent this year, silver is ‘playing catch up’ as David Meger of High Ridge Futures told Reuters.
Strong investment demand with ETFs and retail investors pouring money into silver and persistent shortages in the spot market are driving silver prices higher. Silver has now surged 69 percent this year, outpacing gold’s performance in recent sessions.
Peter Schiff’s bold forecast
{{/usCountry}}Strong investment demand with ETFs and retail investors pouring money into silver and persistent shortages in the spot market are driving silver prices higher. Silver has now surged 69 percent this year, outpacing gold’s performance in recent sessions.
Peter Schiff’s bold forecast
{{/usCountry}}Economist and gold advocate Peter Schiff, according to another Moneywise report, believes this is only the beginning. In a recent interview, he argued that silver’s rise could accelerate in tandem with gold’s long-term trajectory.
Schiff was quoted in the Moneywise report saying, “If gold can go from $20 an ounce to $2,600 an ounce, it can go from $2,600 to $26,000.” His forecast was primarily about gold, but he noted that silver could easily double from here, reaching $100 in the near future.
His reason: persistent money printing, inflationary risks, and the weakening US dollar. “We are going to have so much inflation that the dollar is going to lose so much value,” Schiff explained and urged investors to hold physical metals as a hedge.
Inflation fears remain
While the US consumer price index dropped to 2.9 percent in August 2025, Schiff warned that inflation was not over. He predicted a return to 9 percent by 2025, a scenario that could push safe-haven assets like gold and silver even higher.
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Investor opportunities
For everyday investors, the rally has sparked new interest in precious metal IRAs and mining stocks. Companies like Agnico Eagle Mines and Barrick Gold are already top holdings in Euro Pacific Asset Management, Schiff’s firm.
With silver breaking the $50 barrier, the big question is: can it reach $100? Schiff certainly thinks so, and investors are watching closely.
FAQs:
Q1: What is the current price of silver?
Silver is trading at $50.19 per ounce, having breached the $50 level for the first time.
Q2: Why is silver rising now?
Silver is gaining due to strong investment demand, a supply deficit, and momentum from gold’s record-breaking rally.
Q3: What did Peter Schiff predict about silver?
Schiff suggested silver could reach $100 per ounce, driven by inflation and a weakening US dollar.