Silver extends six-session winning streak, nears $87/oz

Silver prices pushed back toward $87 a troy ounce on May 13, extending a six-session winning streak after a sharp pullback from January’s record highs. LBMA-linked market data showed silver at about $86.70 on May 13, while retail market trackers put the metal in a range of roughly $86.29 to $87.15 during the day. Fortune reported on May 13 that silver had climbed more than 150% from a year earlier, rising by more than $53 from about $32.90 a year ago. CME Group data on May 14 showed the actively watched July 2026 silver futures contract at $87.95, after trading as high as $89.165 and as low as $86.800 overnight. The latest move leaves silver well below its January peak but still near levels not seen in more than a decade, according to market trackers. (en.macromicro.me) Trading Economics said silver reached an all-time high of $121.64 in January 2026 before easing back, and the same service showed prices still up more than 167% from a year earlier as of May 14. (fortune.com) ### Where did the May 13 price actually land? LBMA-linked data compiled by MacroMicro showed the silver spot price at $86.70 on May 13. USA Today listed silver at $87.15 per ounce on May 13, while Forbes Advisor showed $86.29 per ounce at 8:57 a.m. ET the same day, underscoring that intraday and source-to-source pricing can vary depending on timing and benchmark. (tradingeconomics.com) ICE Benchmark Administration says the LBMA Gold Price and LBMA Silver Price are global benchmark prices used by producers, refiners, banks, investors and other market participants. The London Bullion Market Association says those prices are the benchmark for unallocated gold and silver delivered in London. ### Why are traders linking the rally to industrial demand? (en.macromicro.me) The Silver Institute said on January 29, 2025 that silver industrial demand was on track to post a new record, and that the market was forecast to remain in deficit for a fifth straight year. The group said industrial demand was the key driver of that supply-demand backdrop. (ice.com) The Silver Institute said in a later market update that 2025 would mark the fifth successive deficit, estimated at 95 million ounces, even as global demand was expected to decline year over year. A separate summary of the 2025 World Silver Survey said industrial demand reached a record 680.5 million ounces in 2024, while the market recorded a 148.9 million-ounce deficit. (silverinstitute.org) USGS says silver is used in electrical and electronic products, mirrors, photography and catalysts, reflecting the industrial uses often cited by market analysts. That helps explain why commentary around the latest rally has focused not only on silver’s role as a precious metal but also on demand tied to electronics and other manufacturing uses. (silverinstitute.org) ### How far is silver from its January record? Trading Economics said silver’s all-time high was $121.64 in January 2026. At about $86.70 on May 13, that would leave the metal roughly $34.94 below the January peak, or about 28.7% lower, based on that benchmark. CME data pointed to the same broad picture in futures trading. (usgs.gov) The July 2026 contract traded at $87.95 on May 14, still far below January’s extremes but close to the upper end of the recent rebound range. ### What should readers watch next? May 14 CME quotes showed July silver futures still trading near $88, with updated settlement and volume data posted by CME Group during the session. (tradingeconomics.com) LBMA and retail pricing pages including LBMA-linked trackers, USA Today and Forbes continue to publish daily spot updates that show whether the six-session streak extends further. (cmegroup.com)