Silver sets sights on $100 per ounce

Silver prices are currently soaring, powered by escalating tensions in the Middle East. On March 2, 2026, the precious metal hit a new local high of $96.387 before falling back down to the $93.64–$93.69 range due to profit-taking—a telltale sign that sellers are digging in at resistance.

Technically speaking, the recent surge was nothing short of explosive. Bollinger Bands on the daily timeframe tell a vivid story: prices pierced the upper boundary at $94.648 during today's session, a classic symptom of momentum-driven buying and, perhaps, short-term market overheating. The subsequent pullback into the channel was almost scripted, especially as the bands widened—a calling card that volatility is spiking and the uptrend is here to stay for the long haul.

Beneath the surface, the bullish pressure looks real. With readings firmly in positive territory and climbing, the Chaikin Oscillator points to genuine capital inflows and real buying volume behind the recent hike. Until this indicator reverses course, the fundamental bid on silver remains intact—even as the market catches its breath.

Conversely, the Stochastic Oscillator offers a more cautious note. With %K at 70 and %D at 72, bullish momentum is still very much alive. Nevertheless, as it approaches the overbought territory at 80, the rally may be due for a cooldown or slower climb. 

The bigger picture, however, is all about geopolitics. The escalating conflict between the US, Israel, and Iran has triggered a stampede into safe-haven assets, and silver is a prime beneficiary. Having cemented itself above $93, the precious metal is now supported by a potent cocktail: a simmering geopolitical premium and growing expectations of Federal Reserve (Fed) monetary easing. Where will it go from here? The immediate target for silver is the symbolic $100 barrier—a level that is likely to attract profit-takers. Clear that, and the spotlight will shift to $105, a zone that could come into play if the current tailwinds persist.

Pay attention to the trading plan down below: 

Buy silver when it falls to the $90.50–$92.00 range. Place Take profit at $105.00. Set Stop loss at $88.00.

This forecast holds true from March 2 till March 9, 2026.