#Silver Price News Today 24-1-2026 - 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 reached historic milestones today, January 24, 2026, with international spot silver surging past the $100 per ounce threshold for the first time. Global prices are currently trading around $103.18 to $104.04 per ounce, reflecting a staggering 40% increase in the first three weeks of 2026 alone.
In India, silver rates show slight regional variations but remain near record highs. The national average price for silver is approximately ₹3,35,000 to ₹3,40,100 per kilogram.
Key Market Drivers
--Triple-Digit Breakout: Silver hit an intraday high of $104.64 today, shattering psychological barriers. This follows a massive 150% rise throughout 2025.
--Industrial Demand: The rally is heavily driven by silver's role in AI data centers (high-conductivity contacts), solar energy (photovoltaics), and electric vehicles.
--Global Supply Deficit: The market is in its fifth consecutive year of physical deficit. Supply has been further constrained by China's 2026 export restrictions, which have drained inventories in London and New York to multi-decade lows.
--Safe-Haven Appeal: Rising geopolitical tensions and a weakening US dollar have prompted investors to pivot toward hard assets. Spot gold also reached record peaks near $5,000 per ounce today.
--Analyst Outlook: While some experts warn of a "short-term pullback" toward $90 due to overbought conditions, others maintain a long-term target of $115+ if structural supply gaps persist.
