Silver Price in January 2026
In January 2026, silver rose 11.6%, from $70.13 at the end of December to $78.29 per troy ounce on January 30, 2026. The highest close was $115.08 on January 26, 2026, the lowest $70.56 on January 2, 2026, and the average over 20 trading days was $90.43. Today's price is 31.3% lower than the January 2026 close.
- Silver rose 11.6% in US dollars in January 2026.
- Measured in other currencies, the change ranged from +5.8% in ZAR to +14.1% in INR, because exchange rates moved too.
- It did better than gold (+9.3%), bitcoin (−10.2%) and US stocks (+1.5%).
- It closed higher on 14 trading days and lower on 6, with an average daily move of 6.35%.
- It set 9 record closing highs (London price, records since 1968), the last on 26 January.
- Gold/silver ratio: 61.9 → 60.6.
- The biggest reaction to a scheduled US release was to the Fed rate decision on 28 January: +8.1% over two sessions.
Silver price chart, January 2026
US dollars per troy ounce · daily closeSilver in other currencies, January 2026
| Currency | Change in the month |
|---|---|
| INR | +14.1% |
| TRY | +12.9% |
| PKR | +11.0% |
| CNY | +10.9% |
| CAD | +10.0% |
| EUR | +9.6% |
| JPY | +9.3% |
| GBP | +8.9% |
| MXN | +7.0% |
| AUD | +6.1% |
| ZAR | +5.8% |
Price in each currency at each day's exchange rate, previous month-end to this month-end. A weaker currency makes silver rise more in local terms.
Silver vs other assets, January 2026
| Asset | Change (USD) |
|---|---|
| Silver | +11.6% |
| Gold | +9.3% |
| Bitcoin | −10.2% |
| S&P 500 (with dividends) | +1.5% |
| US inflation (CPI, month) | +0.37% |
| Gold/silver ratio | 61.9 → 60.6 |
Month-end to month-end. US CPI is the official monthly index (not seasonally adjusted), published the following month.
The Fed and US Data in January 2026
Scheduled US releases this month and how silver moved. For Fed decisions the move covers two sessions, because the statement comes after the gold futures settle.
| Date | Release | Result | Silver |
|---|---|---|---|
| Fri 9 Jan | Jobs report (December 2025) | — | +5.6% |
| Tue 13 Jan | CPI inflation (December 2025) | — | +1.5% |
| Wed 28 Jan | Fed rate decision | Rates unchanged (3.50–3.75%) | +8.1% |
Key Events in January 2026
- Friday, January 30President Trump names Kevin Warsh as his nominee for Federal Reserve chair; gold and silver fall sharply from record highs. SourceSilver: −31.3% that day
Daily Silver Prices, January 2026
Closing price for every trading day, with the same price in INR and AED at that day's exchange rate.
| Date | Close (USD per oz) | Change | USD per gram | 999 India, ₹ per kg | UAE, AED per kg |
|---|---|---|---|---|---|
| Jan 2Fri | $70.56 | +0.60% | $2.27 | ₹2,04,072 | AED 8,328.53 |
| Jan 5Mon | $76.16 | +7.95% | $2.45 | ₹2,20,403 | AED 8,990.51 |
| Jan 6Tue | $80.53 | +5.73% | $2.59 | ₹2,33,622 | AED 9,505.88 |
| Jan 7Wed | $77.14 | −4.22% | $2.48 | ₹2,23,607 | AED 9,105.13 |
| Jan 8Thu | $74.72 | −3.14% | $2.40 | ₹2,15,870 | AED 8,819.59 |
| Jan 9Fri | $78.88 | +5.58% | $2.54 | ₹2,28,016 | AED 9,311.58 |
| Jan 12Mon | $84.61 | +7.26% | $2.72 | ₹2,45,467 | AED 9,987.49 |
| Jan 13Tue | $85.88 | +1.50% | $2.76 | ₹2,48,857 | AED 10,137 |
| Jan 14Wed | $90.87 | +5.81% | $2.92 | ₹2,63,733 | AED 10,726 |
| Jan 15Thu | $91.88 | +1.11% | $2.95 | ₹2,66,391 | AED 10,845 |
| Jan 16Fri | $88.09 | −4.12% | $2.83 | ₹2,55,921 | AED 10,398 |
| Jan 20Tue | $94.21 | +6.94% | $3.03 | ₹2,75,331 | AED 11,120 |
| Jan 21Wed | $92.21 | −2.12% | $2.96 | ₹2,70,131 | AED 10,885 |
| Jan 22Thu | $95.98 | +4.08% | $3.09 | ₹2,82,455 | AED 11,329 |
| Jan 23Fri | $100.93 | +5.16% | $3.24 | ₹2,97,090 | AED 11,913 |
| Jan 26Mon | $115.08 | +14.03% | $3.70 | ₹3,38,545 | AED 13,584 |
| Jan 27Tue | $105.52 | −8.30% | $3.39 | ₹3,11,150 | AED 12,456 |
| Jan 28Wed | $113.11 | +7.19% | $3.64 | ₹3,32,874 | AED 13,352 |
| Jan 29Thu | $114.04 | +0.82% | $3.67 | ₹3,37,456 | AED 13,461 |
| Jan 30Fri | $78.29 | −31.35% | $2.52 | ₹2,31,023 | AED 9,241.47 |
How January usually goes for silver
In the 20 years from 2006 to 2025, silver rose in January 14 times out of 20, with an average move of +4.3% and a median of +3.6%.
Silver in January 2026: FAQ
What was the price of silver in January 2026?
Silver traded between $70.56 and $115.08 per troy ounce (daily closes) in January 2026, averaging $90.43. It closed the month at $78.29.
How much did silver go up in January 2026?
Silver rose 11.6%, from $70.13 to $78.29. The biggest daily rise was +14.0% on January 26, 2026 and the biggest fall −31.3% on January 30, 2026.
What was the silver price on January 2, 2026?
Silver closed at $70.56 per troy ounce on January 2, 2026, the first trading day of the month. 999 India, ₹ per kg: ₹2,04,072.
Is January usually a good month for silver?
In the 20 years from 2006 to 2025, silver rose in January 14 times out of 20, with an average move of +4.3% and a median of +3.6%. Past seasonal patterns are not a reliable guide to any single year.
How much did silver change in rupees in January 2026?
Silver rose 14.1% in Indian rupee terms in January 2026, compared with +11.6% in US dollars.
Did silver beat stocks in January 2026?
Yes. Silver was +11.6% for the month, against +1.5% for the S&P 500 with dividends.
How did silver react to the Fed and US data in January 2026?
Of 3 scheduled US releases this month, the biggest move came after the Fed rate decision on 28 January: +8.1%. The full list with each reaction is on this page.
Did silver keep up with inflation in January 2026?
US consumer prices (CPI) changed +0.37% in January, so silver's real (inflation-adjusted) change was about +11.2%.