Silver prices skyrocket over 13% amid market volatility

On February 3, the March 2026 silver futures contract on Comex, a division of the New York Mercantile Exchange, vaulted over 13 percent, marking a striking resurgence in the precious metals market.

By 6:15 p.m. EST, silver prices had risen 13.1 percent compared with the previous session’s close, reaching $87.06 per troy ounce. During intraday trading, the metal peaked at $89.03 per ounce.

This sharp rally follows a period of pronounced volatility for silver. After breaching the $120 per troy ounce level earlier this year, the price of the metal plummeted to $72.10 at the beginning of February, underscoring the swings that have gripped the market.

The sudden rebound highlights ongoing uncertainty in commodity markets, with investors closely monitoring both supply-demand dynamics and broader economic indicators that could influence the trajectory of silver prices in the weeks ahead.

By Vafa Guliyeva