Silver prices surged to fresh all-time highs on Wednesday, testing the $92 per ounce level, fueled by steady U.S. inflation and geopolitical instability, though analysts warn the vertical rally mirrors the prelude to the infamous 1980 market crash.

Inflation And Geopolitics Fuel Historic Surge

Silver spot prices hit an all-time high of $91.564, trading firmly within the resistance zone of $90.15–$92.40 identified by market analysts. The metal is currently trading up 3.84% on the day at $90.2635.

According to Rahul Kalantri, VP of Commodities at Mehta Equities Ltd., the rally is driven by a “perfect storm” of supportive macro data and safe-haven demand.

Softer-than-expected U.S. inflation data—with Core CPI holding steady at 2.6% year-on-year—has cemented expectations for two to three Federal Reserve rate cuts in 2026.

Simultaneously, global uncertainty is driving capital into precious metals. “Civil unrest in Iran ...