$100 Quest. Manic Metals Report 02/04/2026

If you thought that silver’s 50-year quest to hit $100 an ounce was exciting, well, you should get another chance—and hopefully you won’t have to wait 50 years this time to achieve it. After its ignominious end-of-the-month crash, along with other metals both precious and industrial, silver seems poised to regain its former $100 glory as the charts have turned positive amidst very strong historic volatility in the market.  Part of the story of contact was held back for so many years after the Hunt brothers attempt to corner the markets in the bank bailout of silver but now the fundamental for silver is making it more difficult to keep silver locked up in a box.

After spiking above $200 per ounce e January, the white metal is  back to around $92 this morning,  after plunging into the $70 handle. Did that dip a chance to buy?  The silver bull market is supported by strong fundamental and technical indicators. Silver should surpass $100 in the near future, with the potential to reach $125 or higher.

Silver isn’t just a shiny hedge like gold; it’s the workhorse of modern industry, and that’s where the real firepower comes from.

 Over 50% of silver demand comes from tech and green energy. Solar panels alone gobbled up record amounts in 2025, and with global EV production ramping up, plus AI data centers needing more electronics, demand is set to stay red-hot.

China and India are leading the charge, but U.S. tariffs and de-dollarization trends are pushing more countries to stockpile hard assets.

Silver has had a supply Squeeze with the sixth straight year of deficits—mining output can’t keep pace with consumption, but higher prices will start to change that dynamic.

 London vaults hit record lows last year, and bottlenecks persist. Add geopolitical flare-ups like U.S.-Iran tensions, and you’ve got a perfect storm for higher prices. Investor Frenzy: Retail buyers, ETFs, and even central banks (spilling over from gold) are piling in. Safe haven flows amid macro uncertainty and a weaker dollar are fueling this. J.P. Morgan sees silver targeting $125 by year-end.

 The Wall Street Journal reported that “Precious metals have shattered records over the past year, supported by central-bank purchases and strong inflows into exchange-traded funds as investors moved away from sovereign bonds and currencies in favor of hard assets. Gold topped $5,500 an ounce last month, while silver rose above $120, boosted by a wave of buying from Chinese speculators.

The abrupt pullback was triggered by a rebound in the U.S. dollar, prompting widespread profit-taking after President Trump nominated Kevin Warsh as Federal Reserve chair, a candidate market viewed as more hawkish. CME Group, the leading operator of derivatives exchanges, also raised margin requirements for precious-metal futures, increasing the cost of holding positions.

“This correction will be healthy for the market in the long run,” said Joni Teves from UBS. “This period should provide investors the opportunity to build long-term strategic positions at more attractive entry levels.” Gold’s recent selloff hasn’t shaken bullish calls from some major banks. JPMorgan raised its year-end estimates to $6,300 an ounce, driven by exceptionally strong demand from investors and central banks. Deutsche Bank maintained its $6,000-an-ounce forecast.

Near-term risks remain, as year-to-date gains have almost fully unwound and some investors might continue profit-taking. Still, market watchers say the pullback appears to be a correction rather than the start of a new downtrend, with volatility expected to remain elevated.

Copper is expected to stay strong, with supply deficits in 2026 and mining challenges driving demand. Although short-term trading may be volatile, analysts forecast high prices and continued market shifts.

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