Silver Prices Briefly Broke Records, but Is It Worth Investing in for the Future?

Silver has returned to the spotlight for investors after recording significant price surges over the past two years. Throughout 2025 and into early 2026, the precious metal’s price soared sharply, even breaking new records.

In January 2026, the silver price briefly surpassed US$100 per ounce, equivalent to Rp1.68 million per ounce based on an exchange rate of Rp16,800 per US dollar.

However, after touching that level, silver prices corrected to around US$85 per ounce, or approximately Rp1.42 million per ounce. This highly volatile movement raises the question: is silver still a worthy investment for the future?

Experts suggest there is no black-and-white answer regarding the merits of silver investment. However, risks must be carefully considered before adding the precious metal to one’s portfolio.

Matthew Argyle, founder of Encore Retirement Planning, stressed that silver is not an income-generating asset. “Silver is an asset that does not generate income,” he said, as quoted by CBS News on Saturday, 21 February 2026.

“Unlike shares and bonds, silver does not produce profits, dividends, or interest. Silver does not generate cash flow,” he explained.

This means returns from silver depend entirely on price appreciation. Meanwhile, Evan Mills, a financial advisory analyst at Scholar Advising, noted that investing in silver is more of a speculative diversification play than a genuinely productive investment.

“Many people seek consistent and predictable cash flow, and silver does not provide that,” he said.

Furthermore, price volatility poses a major challenge. Hiren Chandaria, Managing Director at Monetary Metals, explained that silver can carry significant risk due to its volatility and its tendency to move in line with broader markets during periods of stress.

“Silver has experienced sharp corrections over short periods, including double-digit declines in relatively brief timeframes.”

For context, in mid-2024 the average silver price was still below US$30 per ounce, or approximately Rp504,000 per ounce. Less than two years later, the price breached US$100, or Rp1,680,000 per ounce, before falling back.

“Metals can be extremely volatile,” said Chris Berkel, investment adviser and President of AXIS Financial. “In the early 1980s, silver peaked at US$50 before falling to below US$5. That was a 90 per cent decline.”