January 13, 2026
Article from ING by Ewa Manthey
Article Synopsis
Silver fell over 7% from a record above $93 an ounce as easing tariff threats reduced near-term policy risk but has since rebounded, reflecting its inherent volatility. Despite the pullback, silver remains over 25% higher year-to-date, supported by strong industrial demand and a structural supply deficit. The U.S. administration’s shift toward bilateral agreements and a possible import price floor eased immediate disruption fears. With tight physical stocks and constrained mine supply, silver prices are expected to remain volatile yet supported on dips.
