Silver price surged to a new all-time high of $95.34 per ounce on Tuesday, January 20, 2026, rising 6.54% as gold simultaneously broke through $4,731, driven by President Trump's escalating tariff threats over Greenland that triggered a massive flight to safe-haven assets. The white metal is outperforming gold on a percentage basis, extending its extraordinary rally that has seen silver gain over 185% in the past year.

Macroeconomic strategist Tom Bradshaw predicts silver could reach $375 per ounce by 2028, while gold may hit $9,000, warning that the precious metals rally signals not prosperity but "alarm that the fiat currency system is under enormous pressure".

In the meantime, major banks forecast gold reaching $5,000-$6,000 in 2026, with silver expected to break $100 as supply deficits deepen.​ Let’s check together how high can silver price go and what are the newest gold price prediction for 2026 and beyond.

Why Silver Is Surging? Trump's Greenland Tariffs Trigger $95 Record

"Silver extends its record-breaking rally, supported by trade and geopolitical uncertainty as President Trump escalates his efforts to take control of Greenland," notes Nikos Tzabouras, Senior Market Analyst at Tradu.com.

Trump announced plans to impose 10% tariffs on eight European countries, Denmark, Norway, Sweden, France, Germany, the United Kingdom, the Netherlands, and Finland, starting February 1, 2026, escalating to 25% by June 1 if Greenland is not sold to the United States.

"The announcement unsettled European markets and prompted discussions among EU nations over potential retaliatory measures," explains Maria Agustina Patti, Financial Markets Strategist at Exness.

Michael Brown, Senior Research Strategist at Pepperstone, characterized Monday's trading as "predictable" with "European equities underperforming, havens such as gold in demand, and the dollar facing headwinds".

However, Marek Rogalski, lead analyst at BossaFX, notes "markets reacted schematically to new geopolitical tensions - friction over Greenland has transitioned into economic warfare between the USA and the European Union."

Silver Technical Analysis: $100 Target as Metal Breaks $95

Silver's price opened with a bullish gap on Tuesday, January 20, 2026, rising nearly 6% and testing $95.50 per ounce. According to my technical analysis, previous local highs from last week around $93.50 will now serve as new support, which Monday's long lower wick on the daily candle already defended.

My earlier ambitious target of 161.8% Fibonacci extension has been achieved with significant surplus. The ultimate target now appears to be the psychological $100 level, a milestone that would represent quadruple-digit percentage gains from 2024 lows.

While finding resistance in the price discovery phase is difficult, identifying support is much easier. As I show on my chart, key support levels include:

Key Silver Technical Levels

• Current price: $95.34 (new ATH, Jan 20, 2026)
• Immediate support: $93.50 (previous week's highs)
• Support zone 1: $84 (December 29 highs)
• Support zone 2: $72-$68 (large price accumulation, 50 EMA at $64)
• Major support: $54-$47 (October-November range, 200 EMA at $48)
• Psychological level: $50 (round number, aligns with 200 EMA)
• Next target: $100 (psychological milestone)
• 2028 extreme target: $375 (Tom Bradshaw forecast)
• Overextension risk: 47% above 200 EMA

According to my technical analysis, silver has distanced itself from the 200-day exponential moving average by 47%, making any technical or structural correction more than expected. However, currently pushing prices higher are uncertainty and risk-off sentiment, so it's not certain this correction will occur immediately.

"The metal is essential to the AI boom and the build-out of data centres, the clean energy transition, and the defence industry amid rising military budgets," Tzabouras explains, highlighting structural demand drivers beyond geopolitical factors.

Gold Technical Analysis: $5,000 Next Target, $3,800 Still Bullish

Gold price rose 3% on Tuesday to $4,737 per ounce, opening with a clear bullish gap in reaction to the latest political tensions. According to my technical analysis, Tuesday's session opened with a pronounced gap up, and historical maximums drawn in recent days around $4,600-$4,640 will serve as new support.

The key support level for me remains the zone from October highs around $4,360, which at this moment almost ideally overlaps with the 50-day exponential moving average (50 EMA). Gold has also moved very far from the main 200 EMA, which separates the downtrend from the uptrend.

As a result, gold could fall below the psychological $4,000 level and drop to just $3,800, and I would still remain a structural bull, using all these declines to buy back. Only a decline below the 200 EMA would suggest to me that gold may correct much more decisively.

Key Gold Technical Levels

• Current price: $4,737 (gap-up open, Jan 20, 2026)
• New support: $4,640-$4,600 (recent ATH zone)
• Key support: $4,360 (October highs, coincides with 50 EMA)
• Psychological support: $4,000 (round number)
• Bull invalidation: $3,730 (200 EMA - bearish only below)
• Wide support zone: $3,440-$3,270 (structural accumulation)
• Next target: $5,000 (100% Fibonacci extension, bank consensus)
• Distance from 200 EMA: Gold extremely extended, 20% correction possible
• Trend status: Bullish since early 2024, uninterrupted

At the same time, on my chart I have a wide support zone between $3,440 and $3,270, whose test would still not be the end of the world, although fundamentally it's hard to imagine the realization of such a scenario for now.

A 20% correction is quite possible, meaning a drop to the 200 EMA, and although this will probably cause media panic, technically and structurally it will only be a reaction after the uninterrupted uptrend observed since the beginning of 2024.

"Nonetheless, gold remains susceptible to volatility as speculative positions build, leaving it vulnerable to profit-taking following the new highs," warns Tzabouras from Tradu.com. "At the same time, the Fed may struggle to deliver multiple rate cuts amid ongoing macroeconomic uncertainty, which could limit further strength in bullion."

Expert Gold Price Predictions: $5,000-$9,000 Targets

Major financial institutions and expert analysts have released updated gold price forecasts for 2026, with most clustering around the $5,000 level that my Fibonacci analysis targets.

Major Bank Gold Forecasts

Goldman Sachs forecasts gold reaching approximately $4,900 per ounce by the end of 2026, driven by continued central bank purchases. JPMorgan Chase presents an even more bullish outlook, predicting gold will average $5,055 in Q4 2026, with potential peaks reaching $5,200-$5,300 per ounce, calling gold their "highest conviction long" bet due to strong central bank buying and persistent inflation.

Bank of America raised its 2026 gold price forecast to $5,000, with an annual average of $4,400. Deutsche Bank increased its average 2026 forecast from $4,000 to $4,450 per ounce, citing continued diversification of reserves by central banks.

Extreme Scenario: $6,000 Per Ounce

Peter Schiff, economist and founder of Schiff Gold, predicts gold could reach $6,000 in 2026, particularly in extreme geopolitical scenarios such as escalating Greenland tensions. Goldman Sachs warns that gold may exceed $5,000 if the Federal Reserve's independence is compromised.

The bullish precious metals forecasts are already reshaping trading infrastructure across financial markets. Crypto exchange BingX reported its traditional finance trading product surpassed $1 billion in 24-hour volume, with gold futures contracts alone generating over $500 million as prices tested record highs above 4,700 dol. per ounce.

The surge in gold volatility has forced market participants to adapt quickly: CME Group switched its margin system for gold, silver, platinum, and palladium futures from fixed dollar amounts to percentage-based requirements, while liquidity provider Scope Prime adjusted spreads in response to sustained price increases.

Tom Bradshaw's $9,000 Gold

Macroeconomic strategist Tom Bradshaw warned in an interview with Daniela Cambone on ITM Trading that the gold market is sending signals that have historically almost always preceded deep economic crises. His forecast is unequivocal: gold may rise to $9,000 per ounce, and silver to $375 by 2028.

"When gold changes its value by 38% or more in a year, the American economy experienced serious economic crises," Bradshaw explained. "Gold has reached this threshold in 11 of the last 15 months. Recession may therefore be inevitable, if it's not already underway".

According to data cited by the expert, a similar pattern was observed before the 1973-75 recession, the double recession of the early 1980s, and before the 2008 crisis and the European debt crisis of 2010-2011.

"This is a classic signal of deflationary, not inflationary slowdown. Gold doesn't tell us about hyperinflation - only about economic cooling and a sharp drop in confidence in debt," Bradshaw compares the current situation to an epochal turning point.

In 2025, gold outperformed the S&P 500 by 49%, and silver by as much as 132% - a rotation of capital from the stock market to metals seen only four times in history: in 1931, 1971, 2002, and 2025.

You may also like my previous gold and silver price predictions articles:

• Why Gold Will Hit $10,000? This New Gold Price Prediction Sees the Yellow Metal Doubling
• Gold Price Prediction 2026: WGC Warns of 20% Crash Risk
• This New Silver Price Prediction Suggests Precious Metal Can Double to $100 Following Gold Price Rally

Silver Price Predictions: $100-$375 Targets

Peter Schiff forecasts silver hitting $100 per ounce by 2026, stating "I think $100 is a very realistic target for silver in 2026. It could end up being quite a bit north of that." In a recent interview, Schiff urged investors: "Do not wait for a pullback," emphasizing that silver's breakout above $50-$70 has set a new floor.

GoldSilver's Lead Analyst Alan Hibbard expects silver to trade above $100 in 2026 as supply deficits deepen and industrial demand accelerates. DeVere Group analysts project silver could reach $200 per troy ounce by the end of 2026.

Famous Investor Predictions

Robert Kiyosaki, author of "Rich Dad Poor Dad," predicts silver will potentially reach $200 by 2026, emphasizing silver as "the best and the safest" investment amid what he calls the "biggest crash in world history".

Mike Maloney, precious metals expert at GoldSilver, made his boldest prediction yet: "I'm betting on at least $200 an ounce, but we could see a spike that goes up toward quadruple digits." Maloney argues that silver, when adjusted for true inflation, would need to reach $200 just to match its previous inflation-adjusted highs.

Tom Bradshaw's $375 Silver Forecast

"Silver is an interesting case because it's half industrial, half precious. My models say it's currently overvalued by 86%, reminiscent of 2011 and 1982 levels - periods after which 75-80% corrections occurred," Bradshaw explains.

Despite a possible short-term decline, Bradshaw remains a long-term optimist. As he points out, the market has broken a 45-year "cup and handle" formation trend, opening the way for further increases.

"We are very early in this bull market. I expect a 40-45% correction, then a return to growth and finally - silver reaching around $375 per ounce in 2028".

For retail traders, the challenge is less about identifying the target and more about execution: sizing, drawdown tolerance, and timing entries in volatile conditions. These execution-level questions are increasingly being addressed in live environments, including trader-focused sessions at Dubai’s Trading Festival, where strategies are dissected beyond headline price targets.

How High Can Silver Go? Industrial Demand Meets Safe-Haven Flows

"Silver can rise more than gold this year, especially since the growth parity hasn't been filled yet and governments haven't stockpiled silver" like they have with gold, explains Tzabouras from Tradu.com.

According to my technical analysis, silver's immediate target is the psychological $100 level, representing a 5% gain from current $95.34 prices. Beyond that:

• Near-term realistic: $100 (psychological milestone, 2026 consensus)
• Optimistic 2026: $200 (Kiyosaki, Maloney, DeVere Group)
• Extreme 2028: $375 (Tom Bradshaw, requires 40-45% correction first)

"However, a pullback could occur as Trump's decision to hold off import duties on critical minerals eases tightness concerns," warns Tzabouras. "In addition, global economic headwinds from tariffs could dampen consumption, creating a mixed supply-demand picture."

The dominance of industrial demand distinguishes silver from gold. The metal is essential to AI data centers, clean energy transition (solar panels), and defense industry amid rising military budgets. This creates structural deficit conditions even as prices soar.

For real-time gold and silver technical analysis as prices target $100 silver and $5,000 gold amid Greenland tariff crisis, follow me on X (Twitter) @ChmielDk. I provide regression channel analysis, Fibonacci projections, and geopolitical impact insights on precious metals.

FAQ: Why Gold and Silver Are Surging

Why is silver surging today?

Silver surged to $95.34 all-time high on January 20, 2026, driven by Trump's Greenland tariff threats imposing 10% duties on eight European nations (escalating to 25% by June) and Fed independence concerns. According to my technical analysis, silver opened with bullish gap targeting $100 psychological level with support at $93.50 and $84. Industrial demand from AI data centers, clean energy, and defense compounds safe-haven flows.

Why is gold going up?

Gold hit $4,737 on January 20, 2026, opening with gap-up after reaching $4,731 ATH, driven by geopolitical uncertainty over Greenland acquisition and US-Europe trade war. According to my chart analysis, gold targets $5,000 (100% Fibonacci extension, bank consensus) with support at $4,360 and 200 EMA at $3,730. Tom Bradshaw warns gold's 65% rally in 15 months historically preceded deep recessions.

How high can silver go in 2026?

According to my technical analysis, immediate target is $100 (psychological milestone, 5% from current $95.34). Expert forecasts: Peter Schiff $100+, Alan Hibbard (GoldSilver) above $100, DeVere Group $200, Robert Kiyosaki $200, Mike Maloney "quadruple digits." Tom Bradshaw predicts $375 by 2028 after 40-45% correction, citing 45-year cup-and-handle breakout.

How high can gold go in 2026?

Major bank forecasts: Goldman Sachs $4,900 year-end, JPMorgan $5,055-$5,300, Bank of America $5,000, Deutsche Bank $4,450 average. According to my Fibonacci analysis, $5,000 is next target (100% extension). Extreme scenarios: Peter Schiff $6,000 (Greenland escalation), Tom Bradshaw $9,000 by 2028 (deflationary crisis signal). Gold currently $4,737 entering price discovery phase.

Should I buy gold and silver now?

According to my technical analysis, both metals are 47% (silver) and significantly extended from 200 EMA, making 20% corrections structurally expected though not guaranteed amid risk-off flows. Peter Schiff urges "do not wait for pullback" as silver broke above $50-$70 floor. Tom Bradshaw is bullish short-term, cautious mid-term (recession drop likely), bullish long-term to 2028. Consider dollar-cost averaging given volatility risk from profit-taking after new ATHs.