Silver sets an all-time high near $121.78 an ounce on January 29

Silver reached an all-time high of about $121.78 an ounce on the morning of January 29, 2026, according to Wolf Street's account of the move. Gold was near $5,575 at the same peak. The record came at the top of a parabolic run in precious metals and preceded a violent reversal the next day.

• Silver all-time high: about $121.78 an ounce
• Gold near $5,575 at the same peak
• Reversal began the next trading day