Spot silver rises above $91 per ounce, up 4.36% intraday.

Spot silver rises above $91 per ounce, up 4.36% intraday.

Spot Silver Surges Past $91 Per Ounce Amid Supply Constraints and Rising Demand

Spot silver prices rose above $91 per ounce on February 25, 2026, marking a 4.36% intraday gain and extending a multi-week rally driven by tightening supply-demand dynamics and heightened industrial demand. The metal, which has surged past key resistance levels, now trades near its highest level in over a decade, fueled by factors including energy transition technologies and macroeconomic tailwinds.

Supply-Demand Imbalances and Industrial Demand Analysts attribute the rally to a structural deficit in physical silver markets. Mine output has struggled to keep pace with rising industrial consumption, particularly in sectors such as renewable energy, electronics, and electrification, where silver's conductivity and durability are critical. Jigar Trivedi of Reliance Securities noted that "industrial demand has outstripped supply, creating sustained upward pressure on prices." The metal's limited substitutability in applications like solar panels and electric vehicles further reinforces its demand profile.

Macroeconomic and Geopolitical Tailwinds Favorable macroeconomic conditions have also supported the rally. Expectations of lower real interest rates and a weaker U.S. dollar have reduced the opportunity cost of holding non-yielding assets like silver. Meanwhile, geopolitical uncertainties have bolstered its appeal as a safe-haven investment.

Technical Outlook and Cautionary Notes While the $91.18 level represents a 7% weekly gain, analysts emphasize that breaching $100 per ounce would require sustained momentum. Renisha Chainani of Augmont highlighted that a sustained move above $92–$93 is critical before the $100 target becomes viable. However, experts caution against overexuberance. Trivedi warned of potential volatility and profit-taking risks, while investor Robert Kiyosaki noted on social media that "silver is peaking" and a correction could follow widespread speculative unwinding.

Market Implications The surge reflects broader investor sentiment toward tangible assets, with physical silver premiums rising sharply in secondary markets. While structural supply constraints and macroeconomic trends provide a bullish backdrop, market participants are advised to monitor technical levels and macroeconomic developments closely.

ScanX Trade, February 25, 2026: Silver Surges Above $91 Per Ounce as Market Eyes $100 Target Amid Supply Constraints ScanX Trade, February 25, 2026: Spot Silver Extends Rally with 7% Surge to $91.18 Per Ounce