Silver prices surged 5.6% on May 12, 2026, reaching a two-month high of $84.99 per ounce, according to market data. The rally was fueled by escalating tensions between the United States and Iran, as well as robust demand from key industrial sectors.
Spot silver was up 5.8% at $84.99 per ounce, with analysts citing safe-haven buying amid geopolitical uncertainty. The US-Iran tensions have heightened concerns over supply disruptions in the Middle East, boosting precious metals.
Demand from sectors such as photovoltaics, semiconductors, artificial intelligence infrastructure, and electric vehicles remains a key long-term driver for silver. These industries rely on silver's conductive properties, supporting prices despite broader market volatility.
Market participants are monitoring further developments in US-Iran relations and upcoming economic data that could influence silver's trajectory. The metal has gained over 20% year-to-date, reflecting strong investor interest.
