LONDON, March 27, 2026, 17:52 GMT
Silver rebounded sharply Friday, up over 4% as buyers stepped in following Thursday’s tumble. Spot silver jumped to $71.01 an ounce at 11:39 a.m. ET, recovering after a 5% drop to $67.71 the day before. Reuters
Silver’s rebound packs a punch for two reasons. It doubles as a safe haven for investors during market turmoil, while at the same time, it’s a staple for manufacturers—think jewellery, electronics, EVs, solar panels. So when prices jump or plunge, both producers and investors feel it immediately. Reuters
The mood turned sharply Thursday. With the dollar firming up and oil climbing past $110, inflation worries came roaring back. Reuters noted that traders are no longer expecting U.S. rate cuts in 2026—fully priced out, they said. That’s usually bad news for non-yielding metals. Reuters
“The recent selloff created a really good opportunity because the market sold off… prices went below the 200-day moving average,” said Daniel Pavilonis, senior market strategist at RJO Futures, pointing to gold’s move. Many funds track that 200-day line as a long-term signal. Silver caught part of the rebound, with precious metals snapping back together. Reuters
This wasn’t just silver’s rally. Gold jumped 3.6% to $4,536.29 an ounce, with platinum up 3% to $1,882.05, and palladium climbing 3.7% to $1,403.54. Signs of a wider bounce for precious metals. Reuters
Silver bounced back on Friday, but it’s still trading well under its record $121.60 high from Jan. 29. According to earlier Reuters coverage, the metal had dropped 36% from that top by Feb. 2, following what Saxo Bank’s Ole Hansen described as a “massive, massive retail frenzy.” Reuters
Supply concerns persist. According to the Silver Institute, the market is on track for a sixth consecutive structural deficit in 2026—demand will surpass supply by 67 million ounces. That’s despite a projected 2% dip in industrial demand and an expected 20% jump in physical investment, bringing it to its highest level in three years. Reuters
That keeps forecasts above the spot price from Friday. Back in February, a Reuters poll had analysts pegging silver’s 2026 average at $79.50 an ounce. But Julius Baer’s Carsten Menke flagged a cooling in industrial demand as solar makers either reduce silver use or turn to cheaper alternatives. Michael Widmer at Bank of America echoed caution, saying silver faces “a lot of volatility ahead, with risks of sharp pullbacks.” Reuters
The bounce in gold may not last. Intesa Sanpaolo analysts pointed out that speculative trading had eroded gold and silver’s immediate appeal as safe havens, noting that early during the Iran conflict, investors sold off to grab liquidity. Kitco Metals’ Jim Wyckoff flagged pressure from rising rates and inflation on gold’s price. Reuters
Silver remains stuck in a broad range. Following January’s late surge, analysts speaking to Reuters pointed to a more sustainable level between $60 and $70—a long way off from the triple-digit peaks reached earlier in the year. Friday brought a legitimate bounce, but the main debate is far from resolved. Reuters
