Catenaa, Sunday, February 01, 2026-Silver prices surged to record highs last week, surpassing bitcoin’s gains since the 2017 crypto market peak as heavy trading swept global metals markets.
Silver briefly climbed above $117 per troy ounce before easing toward $105 by late US trading. The metal traded near $17 at the end of 2017 and remains up about 517% even after the pullback. Bitcoin, which peaked near $20,000 in late 2017 and now trades around $87,700, has risen roughly 500% over the same period.
Gold also reached a new high on Monday, topping $5,100 per troy ounce. That gain translates to just under 300% since 2017, trailing silver’s advance.
The rally triggered intense trading activity across precious metals products. The iShares Silver Trust recorded more than $32 billion in turnover, around 15 times its daily average and the highest volume among global securities that day, according to market data. Gold and mining focused exchange traded funds also ranked near the top of global volume charts, while leveraged silver products saw elevated activity.
Market analysts attribute the move to momentum trading amplified by psychological price levels. The crossing of major milestones in both gold and silver appears to have drawn fresh retail interest, reinforcing the trend.
Silver demand has also been supported by industrial use tied to artificial intelligence infrastructure, including data centers, chips, and power grids. Dollar weakness has added further support.
Crypto markets lagged during the session. Bitcoin drifted lower over the weekend as risk aversion increased, while US spot bitcoin exchange traded funds posted sustained outflows, highlighting a growing divergence between digital assets and metals.
