By
Piyush Shukla, Global Desk
Silver prices surged past $50 per ounce on October 9, 2025, reaching a record high of $50.40. This surpasses previous peaks from 2011 and exceeds the intraday record of $50.36 set in 1980. Financial commentator Peter Schiff highlighted the rally on social media, telling shorts to “enjoy the ride” and calling the momentum in silver “powerful.”
Schiff believes silver is still undervalued at these levels and expects the rally to continue. He cites strong industrial demand from sectors like solar panels, electric vehicles, and semiconductors as a key driver. He also points to supply constraints and safe-haven buying amid economic uncertainty and monetary easing.
Current market data shows COMEX silver futures trading at approximately $49.74 per ounce, up around 1.5% for the day, with a daily high near $49.96 and a low of about $47.85. Silver spot prices are close to $49.67 per ounce, reflecting typical small variations between spot and futures markets. In India, silver futures on the MCX market are trading around Rs 1,46,850 per kilogram, closely tracking global price movements.
Schiff has previously suggested that silver could climb even higher, with potential targets of $100 or more per ounce. He views silver, alongside gold, as a critical hard asset benefiting from declining confidence in fiat currencies. He expects continued demand from central banks and investors seeking safe-haven assets.
Analysts agree that the current rally is supported by a combination of industrial demand, investor interest, and structural supply deficits. The global supply of silver continues to lag behind demand, and tight liquidity in markets such as COMEX and London has further strengthened prices. Investor sentiment has shifted toward silver as a hedge against inflation and economic uncertainty, complementing gold’s strong performance in 2025.