Silver Explodes: $111 Highs Amid War Fears!
Silver Spikes to $111 in Shanghai
Silver priced on the Shanghai Futures Exchange surged to ¥24,500 per kilogram, equivalent to approximately $111 per ounce, amid massive flight to safety due to escalating Middle East tensions.
Verified: SHFE silver futures reached ¥24,690/kg on March 1, 2026, translating to around $103-111/oz based on exchange rates, confirmed by Barchart and SHFE data.
Massive Volatility in Silver Trading
Silver exhibited unprecedented volatility with prices gapping up to $97, down to $93, and back to $95 in rapid swings.
Verified: Silver prices showed extreme intraday swings of up to 10% before recovering, as reported by Mining.com and Livemint, amid thin liquidity and geopolitical news.
Silver Opens at $97 on Globex
Silver futures opened at $97 per ounce on the Globex exchange following a gap up, driven by escalating conflicts.
Verified: COMEX silver opened higher around $93-95 but surged intraday to $96.93, per Livemint and Barchart data, reflecting war-driven demand.
CME Halt and Private Settlements
The CME halted metals trading on February 25, 2026, leading to private settlements of hundreds of millions of ounces off-exchange, amid suspicions of market manipulation ahead of geopolitical events.
Verified: CME confirmed a technical halt on metals and gas trading on February 25, 2026, resuming after 90 minutes, as reported by Bloomberg, Reuters, and Kitco.
Silver Surges Over $96 on Aramco Strike News
Silver prices surged back over $96 following reports of an Iranian drone strike on Saudi Aramco's facilities.
Verified: Silver rose to around $95-96 on March 2, 2026, amid confirmed reports of the Aramco strike from Reuters, Al Jazeera, and Bloomberg.