Silver surged past a historic threshold in early trading today, breaking above $120 an ounce in Canadian funds for the first time as precious metals continued a volatile start to 2026.
As of mid-morning, silver was trading at around $122.73, up $5.90 on the day. The move marked a significant psychological milestone for the metal, which has seen sharp price swings in recent weeks amid heightened investor uncertainty, currency fluctuations and renewed interest in hard assets.
Gold also moved higher, opening at $6,409.51, up $30.08, while platinum rose $36.50 to $3,311.52. Palladium posted the strongest percentage gain among the group, climbing $51.34 to $2,701.52.
While gold has remained comparatively steadier, continuing its role as a traditional safe-haven asset, silver’s outsized moves have attracted increased attention from both retail investors and collectors. Today’s breakout above $120 represents not only a new price level, but also a reminder of silver’s reputation as one of the most volatile major precious metals during periods of market stress.