Silver Price Sees Solid Momentum and $90 Could Be Just the Start – by Neils Christensen (Kitco News – May 13, 2026)

Key Takeaways

• Silver trades above $88/oz, up 2% daily.
• Industrial demand outpaces supply, fueling price momentum.
• Copper hits record $6.70/lb, supporting metal bullishness.
• OANDA analyst sees $90 resistance as near‑term target.

Pulse Analysis

Silver’s recent breakout reflects a rare convergence of macro and micro forces. While gold remains tethered to monetary policy expectations, silver is benefitting from a tightening supply chain and robust industrial consumption, especially in electronics and renewable‑energy applications. Analysts point to mine output constraints and rising demand from battery manufacturers as the primary drivers, creating a supply deficit that can sustain price gains even if broader risk sentiment wavers. This dynamic positions silver as a hybrid asset—part precious metal, part industrial commodity—offering investors a diversified exposure to both inflation hedging and real‑economy growth.

The metal’s upward trajectory is further reinforced by copper’s record‑high futures, which have surged past $6.70 per pound. Copper and silver often move in tandem because they share similar industrial end‑uses and are sensitive to global manufacturing activity. As copper prices climb, they signal strong demand for conductive materials, bolstering confidence that the same demand pressures will lift silver. Moreover, the backdrop of persistent inflation worries keeps interest‑rate expectations elevated, prompting market participants to seek tangible assets that can preserve purchasing power, thereby adding a monetary layer to silver’s appeal.

For investors, the $90 per ounce threshold highlighted by OANDA’s Elior Manier could act as a psychological and technical catalyst. Breaching this level may trigger algorithmic buying and attract speculative capital, potentially accelerating the rally. However, traders should monitor supply‑side developments, such as new mine projects or recycling initiatives, and watch for shifts in monetary policy that could alter risk appetite. A balanced approach—combining exposure to silver’s industrial upside with hedging against volatility—may offer the most prudent path forward in an environment where metal markets are increasingly interlinked.