Silver woke up to reach an all-time high price this Friday, rising over $56 per ounce.

The metal, which has been oftentimes belittled due to its poor performance compared to gold, finally broke out and drew a cup-and-handle formation that had been decades in the making, scoring a week with a 12.8% hike. The metal also experienced its highest intraday performance in 13 months, reaching a 5.5% increase over its last price.

The development was qualified as historic by commodity analysts, who also stated that silver was 94% up year to date (YTD), leaving other investment alternatives, like bitcoin, gold, and the SPX index, in the dust.

Nonetheless, even with its monstrous uptick, the silver rally might still have some fuel in the tank yet.

Otavio Costa, macro strategist at Crescat Capital, highlighted that silver could be on “the cusp of one of its most important runs in history.”

Read more: Robert Kiyosaki Frames Silver’s Possible $200 Level Within His 2026 Outlook

Journalist Michelle Makori pointed out that the squeeze was nowhere near finished, as inventories remain thin in all warehouses, including Shanghai, London, and COMEX, signaling supply pressures.

She also referred to the recent designation of silver as a critical mineral, stressing that it is now designated as strategically important for “national security, energy infrastructure, and advanced manufacturing.”

“It also tells the market that Washington is preparing to pay closer attention to where silver comes from and where it goes,” she concluded.

Willem Middelkoop, a Swiss financial analyst, states that the run might take silver “to $60 in days, $70 in weeks, and possibly $100 in months.”

• What recent milestone did silver achieve?
  Silver reached an all-time high price of over $56 per ounce, marking a significant increase in its value.

• How much did silver’s price rise in the past week?
  Silver experienced a 12.8% increase over the week and its highest intraday performance in 13 months, with a 5.5% rise recently.

• What factors are contributing to silver’s price surge?
  Analysts attribute the rally to thin inventory levels in major warehouses and the recent designation of silver as a critical mineral for national security and advanced manufacturing.

• What future potential do analysts see for silver prices?
  Strategists predict that silver could rise significantly in the coming days and weeks, with estimates suggesting it might reach $60, $70, or even $100 in the coming months.

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