Silver has surged to a new all-time high above $95 per ounce, fueled by geopolitical tensions, safe-haven demand, and increasing industrial use. Analysts foresee the price reaching $100 in the near term, with some predicting a long-term rally toward $300 by 2026 due to tight physical supply and large short positions. The decline in the gold-silver ratio signals silver's strong outperformance compared to gold in the current cycle.