#Silver Price News Today 20-1-2026 - Elliott Wave and technical analysis of Silver, focusing on market structure, key support and resistance zones. Video by MCO Global Equities & Commodities.
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Silver prices hit new record highs on January 20, 2026, with the COMEX front-month contract reaching $94.74 per ounce. In India, silver surged by approximately ₹10,000–₹11,000 per kg in a single session, trading at record levels near ₹3,15,000–₹3,30,000 per kg across major cities.
Key Market Movements and Data
--Geopolitical Tensions: Prices are primarily driven by an intensifying dispute between the U.S. and Europe over the status of Greenland. President Trump has threatened heavy tariffs on European countries opposing U.S. interests there, triggering a flight to safe-haven assets.
--China Export Restrictions: Effective January 1, 2026, China reclassified silver as a "strategic material," strictly limiting exports. This has caused a massive supply crunch in Western hubs like London and New York.
--Physical Squeeze: A structural credit crisis is unfolding as institutional investors lose trust in "paper" silver contracts and demand physical delivery, draining COMEX and LBMA inventories.
--Industrial & Tech Demand: Silver demand is being supercharged by the nuclear energy revival—specifically for reactor control rods needed to power AI data centers—and continued growth in the solar and EV sectors.
Analysts from Citi Research and other firms now target $100 per ounce for silver within the next three months, citing a persistent structural deficit and the metal's evolving role as a national strategic asset. However, experts warn that silver's extreme volatility could lead to sharp "drawdowns" if trade tensions ease or profit-taking occurs.
