Silver Futures Break Through the Critical $100 Per Ounce Mark, Last up 3.85%

Since the start of the year, friction between the U.S. and ‍NATO over Greenland, concerns about the Federal Reserve’s independence, and continued uncertainty over tariffs have driven a surge in demand for safe‑haven assets.

Central bank buying and a broader move away from the dollar have also ⁠underpinned gold's rise.

"We also consider the White House’s increasing aggravation of Fed policy, pushing ‍for lower rates and a more dovish Fed Chair, as reducing confidence in U.S. government debt," analysts at ‌SP ‌Angel said.

The Fed is expected to hold interest rates steady at its January 27–28 meeting, but markets still expect two further rate cuts in the second half of 2026.

As a non‑yielding asset, gold is often favored during periods of low interest rates.

Silver rose around 147% last year driven by robust demand, challenges in scaling up refining of the metal and a persistent supply shortage in the market.

"Silver, specifically, has been helped by anecdotal ‍evidence of lines in Shenzhen and huge retail demand in Turkey and Dubai," Wong added.