Silver is a dual‑purpose metal. It powers electronics, fuels clean energy and acts as a safe‑haven asset for investors. When the price crosses a psychological level like $95 a troy ounce, it signals a shift in market sentiment and attracts a wave of new participants. In 2026, that threshold was breached with a surge that remains the largest single‑day gain for the metal.
The climb began in the early hours of March 12, 2026. A combination of macro‑economic signals and supply disruptions set the stage.
These factors converged, and traders began buying in anticipation of a breakout. The price moved from around $85 to $96 in just a few hours, closing the day at $97.15.
On the trading floor, the volume spiked to levels not seen in a year. Market data showed a 30% increase in daily turnover compared to the previous month. Many large hedge funds added silver to their portfolios, citing its dual role as a commodity and a hedge against inflation.
“Silver’s performance today reflects the broader shift toward commodities that support green technology,” said Ramesh Gupta, a senior analyst at Indus Commodities. “The price jump is a clear sign that investors are looking beyond traditional currencies.”
In India, the National Stock Exchange’s futures contract for silver hit a record close, prompting several institutional investors to lock in gains before the price corrected slightly in the evening.
While a single‑day rally can attract short‑term traders, long‑term holders have a different view. Silver’s price has historically shown resilience during periods of market stress. The 2026 spike adds to a trend of gradual appreciation driven by structural demand in electronics, solar panels and electric vehicles.
For investors holding silver in physical form, the price rise translates directly into higher asset value. For those in ETFs or futures, the benefit is two‑fold: the market price rises and the cost basis for new positions drops.
Silver last crossed the $95 level in 2018, when it reached $99.30. That rally was fueled by a different mix of supply constraints and speculative activity. The 2026 move is notable for its speed and the breadth of market participants involved, from retail traders in Bengaluru to institutional funds in Mumbai.
Historical charts show that after each major breakout, the price tends to consolidate before the next move. Analysts expect a similar pattern: a brief pullback followed by a new support level around $92, before the next push.
Chart watchers noted a bullish engulfing pattern on the daily chart, confirming the reversal. Moving averages crossed in the favor of buyers: the 50‑day average moved above the 200‑day average, a classic sign of upward momentum.
Volume‑weighted average price (VWAP) for the day remained above the closing price, indicating that buying pressure was sustained throughout the session. These indicators give traders a clearer view of potential support and resistance zones.
Supply dynamics remain the main driver. If the South African strike resolves, output could normalize, easing pressure on prices. On the demand side, any new technology that requires silver, such as advanced photovoltaic cells or high‑frequency communication equipment, could keep the upward trend alive.
Currency fluctuations also play a role. A stronger rupee would dampen import demand, whereas a weaker rupee could push prices higher as foreign buyers look for cheaper silver in INR terms.
For Indian investors, staying informed about policy changes, especially those related to the mining sector and import duties, is essential. Diversifying holdings across physical silver, exchange‑traded funds and futures can help manage risk while capturing potential upside.
The $95 barrier breach in 2026 stands as a milestone for the silver market. It demonstrates how supply shocks, macro trends and technological demand can converge to produce a headline‑grabbing rally. Whether you’re a seasoned trader or a curious investor, the event offers valuable lessons about market dynamics and the importance of staying alert to both global and local signals.
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