How Much Is Silver By The Ounce Today: Why Prices Are Going Wild

If you’re checking your phone to see how much is silver by the ounce today, you probably noticed the numbers are moving faster than a caffeine-fueled day trader. As of Sunday, January 18, 2026, the silver spot price is hovering around $90.88 per ounce.

It’s been a chaotic morning. Prices actually dipped slightly—about $1.93 or 2%—from the absolute madness we saw earlier in the week. Honestly, if you blinked on Thursday, you might have missed silver hitting its all-time high of **$93.54**. We are officially in uncharted territory.

The $90 Milestone: What’s Actually Happening?

A year ago, nobody would have believed we’d be talking about ninety-dollar silver as the "new normal." In early 2025, silver was still fighting to stay relevant in the $20s. Now? It’s up nearly 200% over the last twelve months. This isn't just a tiny bump. It’s a structural shift that’s making people rethink their entire portfolio.

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Why the volatility today?

Basically, the market is catching its breath. After a 25% surge in the first two weeks of 2026 alone, some of the "big money" players are cashing out and taking profits. It’s a classic "sell the news" moment. There was a lot of hype about silver hitting $100 by tomorrow—Robert Kiyosaki has been all over X (formerly Twitter) predicting $107 by January 19—and that kind of talk makes the market jumpy.

But it’s not just about tweets and hype.

Why the Price of Silver Is Exploding in 2026

If you want to understand how much is silver by the ounce today, you have to look at the "perfect storm" of factors hitting the market all at once. It’s a mix of tech, politics, and some very empty warehouses.

1. The Industrial "Vise"

Silver isn't just a pretty coin. It’s a industrial workhorse. You’ve got solar panels, 5G towers, and EVs all screaming for the stuff. Every single electric vehicle uses about one to two ounces of silver. With global EV production expected to hit 15 million units this year, that’s a massive amount of metal being locked away in car batteries and circuit boards.

Then there’s the AI boom.
Data centers are popping up everywhere. These things require high-end servers and cooling systems that rely on silver’s unmatched conductivity. We’re at a point where industrial demand is actually higher than what we’re pulling out of the ground.

2. The China Export Brake

Beijing recently threw a wrench in the gears by tightening export controls on physical silver. Since China is a massive refiner, this has caused a huge bottleneck. If you can’t get the metal out of the country to the big hubs in London or Zurich, the price for what is available elsewhere goes through the roof.

3. Geopolitical Safe Havens

The world feels a bit shaky right now. Between the U.S. arrest of Venezuela’s president and ongoing friction in the Middle East, investors are nervous. When people get scared, they buy gold and silver. It’s the oldest play in the book.

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4. The "Gold-Silver Ratio" Is Breaking

Historically, the gold-to-silver ratio (the number of silver ounces it takes to buy one ounce of gold) averages around 60. Recently, that ratio has been collapsing. Silver is outperforming gold by a mile. Even with gold sitting at record highs near $4,600, silver is the one making the most "noise" in terms of percentage gains.

The Reality of Buying Silver Right Now

Look, the "spot price" you see on Google isn't what you actually pay at the local coin shop or online bullion dealer. If you’re looking at how much is silver by the ounce today because you want to buy a physical 1oz Silver Eagle, be prepared for "premiums."

A premium is the extra fee dealers tack on for minting, shipping, and their own profit.
Right now, physical silver is so tight that premiums are staying stubbornly high. You might see a spot price of $90.88, but don't be shocked if a dealer asks for $98 or even $105 for a single ounce coin.

Supply is thin.
London’s inventories are reportedly at multi-year lows. In some cases, we’re seeing "backwardation," which is a fancy finance term meaning people are so desperate for silver right now that they’re willing to pay more for immediate delivery than for a contract to get it in three months.

Can It Really Hit $100?

The "triple-digit silver" talk used to be reserved for the tinfoil hat crowd. Not anymore. UBS and other major banks have noted that this rally is one of the most powerful in modern history, rivaling the famous Hunt Brothers squeeze of the late 70s.

To hit $100, silver only needs to move another 11% or so from where it is today. Given that it moved 25% in two weeks, $100 feels less like a dream and more like a "when, not if" scenario. However, the path won't be a straight line. Silver is notorious for its "face-ripping" rallies followed by "gut-punch" corrections.

One big risk?
The U.S. government recently labeled silver a "national security issue." On one hand, that confirms how vital it is. On the other, it could lead to more regulations or price caps if the volatility starts hurting the tech and energy sectors too much.

Actionable Steps for the Silver Market Today

If you’re tracking the price because you’re thinking about jumping in or selling, here’s the reality on the ground:

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• Watch the "Ask" Price, Not Just Spot: When buying, look for the "Ask" price on sites like APMEX or Kitco. This is the starting point for dealers. The "Spot" is just a benchmark.
• Don't FOMO Into High Premiums: If a dealer is asking for a $15 premium on a basic round, shop around. Junk silver (pre-1964 U.S. coins) sometimes has lower premiums when the market gets this heated.
• Track the $88 Support Level: Analysts are saying that as long as silver stays above $88, the bull run is still very much alive. If it breaks below that, we might see a fast slide back to the $70s.
• Check the Gold/Silver Ratio: If the ratio drops below 50, silver might be getting "overheated" compared to gold. At that point, some veterans swap their silver back into gold to wait for a correction.

Silver is doing exactly what it’s famous for: being the most exciting, frustrating, and volatile asset in the world. Whether it hits $100 tomorrow or falls back to $85, the industrial deficit isn't going away. The world needs the metal, and right now, there just isn't enough to go around.