Current price of silver as of Thursday, January 29, 2026

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Is it a good time to invest in silver? 

Silver’s price has improved more than 150% over the past year, reaching decade-high levels. 

Whether to buy now hinges on your strategy. Precious metals can hedge inflation, and rising industrial uses—from solar to electronics—could potentially drive further gains. However, investors looking for more robust growth may be disappointed. 

Current precious metals prices as of 8:45 a.m. ET on January 29, 2026 

Precious metal	Price per ounce
Gold	$5,527.36
Silver	$119.47
Platinum	$2,785.87
Palladium	$2,091.80

Gold
Price per ounce	$5,527.36
Silver
Price per ounce	$119.47
Platinum
Price per ounce	$2,785.87
Palladium
Price per ounce	$2,091.80

Gold is the stalwart safe haven; platinum and palladium share similar volatility to silver due to smaller markets.

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The takeaway 

In an uncertain economy, precious metals may be a prudent addition to one’s portfolio. Silver’s performance over the past year has bested gold’s, and some analysts predict a continued uptrend which may potentially push prices to all-time highs. 

Silver’s relatively low cost makes it more accessible for the casual investor. Whether through physical holdings, ETFs, or mining equities, you can position yourself to benefit from the next silver upswing. 

Frequently asked questions

What percentage of my portfolio should I allocate to silver?

Advisors typically advise allocating no more than 10% to 15% to silver and capping precious-metal exposure overall at 20%.

Can silver be held in an IRA?

Yes—IRA-approved, 99.9% pure coins and bars held by an IRS-approved custodian qualify.  

While some may choose to collect silver jewelry with lower purity levels or pre-1965 U.S. coins containing silver (often containing around 90% purity and known as “junk silver”) just know these won’t qualify for IRA inclusion.

What’s driving silver prices in 2026? 

The past year’s silver rally likely stems from limited supply and growing demand from industrial and investment sectors.