January 26, 2026, will likely be remembered as "Silver Monday." What we witnessed over the last 24 hours was not just a market movement; it was a fundamental re-evaluation of an asset that has been undervalued for decades. The psychological barrier of $100 was not just breached—it was shattered.
At the peak of yesterday's trading frenzy, with $117,74 the silver price nearly scratched the $120 mark. Although we are seeing a slight technical correction this morning, January 27, settling around $111.90 (approx. €94.24), the market's message is crystal clear: The era of cheap silver is officially over.
To understand the magnitude of this price explosion, one must look beyond Wall Street. The rally didn't start in the US; it began in the early trading hours of Asia.
Market reports from Tokyo and Seoul indicate that major industrial conglomerates—from electronics giants to EV battery manufacturers—have started panic-buying the physical market. The fear of production halts due to a lack of silver is palpable. In Japan and South Korea, premiums paid for physical delivery soared far above the spot price. Silver is no longer just a speculative asset there; it is a critical resource for survival.
At the Shanghai Gold Exchange (SGE), the trend of recent weeks accelerated. Due to China's strict export restrictions, the metal remains within the country, keeping local prices stable but high. Arbitrage trading has nearly ground to a halt as almost no silver can be replenished from Western vaults.
When markets opened in London (LBMA) and later New York (COMEX), short sellers faced a wall of buyers. Attempts to suppress the price failed miserably. Instead, we witnessed a massive short squeeze, driving the price vertically upward as positions were covered at any cost.
A look at the current performance table reveals the sheer scale of this movement. Within just one year, the value of silver in US Dollars has more than tripled.
| Period | Value USD | % USD | Value EUR | % EUR |
|---|---|---|---|---|
| Since Jan 01, 2026 | +39.45 USD | +55.50 % | +32.61 EUR | +53.89 % |
| 30 Days | +31.28 USD | +39.47 % | +25.76 EUR | +38.24 % |
| 6 Months | +72.36 USD | +189.57 % | +60.61 EUR | +186.44 % |
| 1 Year | +80.33 USD | +265.99 % | +64.31 EUR | +223.22 % |
| 5 Years | +85.04 USD | +333.62 % | +72.16 EUR | +344.28 % |
| 10 Years | +96.02 USD | +661.75 % | +79.77 EUR | +597.53 % |
Analysts agree: We are experiencing a "re-monetization" of silver coinciding with industrial panic. "The market is finally realizing that silver is geologically too rare for its previous price levels," note strategists regarding the surge.
While gold is often viewed purely as a currency hedge, silver plays a dual role. It is money and the most essential raw material of the digital age. The combination of China's export ban, demand from AI chip production, and the flight from fiat currencies has created an explosive mix.
While some experts warn of short-term volatility—pullbacks of $10 or $20 are normal at these heights—long-term targets at many major banks have already been raised to the $150 to $200 range.
The events of January 26 demonstrate how quickly markets can turn. Those who relied on "paper silver" yesterday faced difficulties covering positions or securing physical delivery. In times of extreme market dislocation, only ownership counts.
Use the current consolidation after the All-Time High to crisis-proof your portfolio. With the Spargold App, you aren't buying a paper promise, but real, physical silver and gold. Securely stored, transparently traded, and accessible at any time. If industries in Japan and Korea are panic-buying, private investors should not hesitate to secure their share of the limited global silver supply.
Stay farsighted,
Yours, Nils Gregersen
