Silver hits a new all-time high, market signals behind the shift of safe-haven funds

Spot silver hit a record high on January 12, 2026, at $83.9 per ounce. This is not only a price milestone but also reflects a profound shift in global capital market risk appetite. From this week’s performance, silver has gained over $7, nearly 10%, making it the strongest performer among precious metals. What exactly is happening behind this, and what impact might it have on the crypto market?

Precious Metals Rise Together This Week, Silver Shows the Strongest Momentum

Let’s first look at the specific performance of the precious metals market this week:

Silver’s performance is particularly noteworthy. Compared to gold’s steady rise, silver, with its “high elasticity,” demonstrates stronger momentum. According to the latest data, silver surged 4.00% intraday, trading at $83.14 per ounce. This rally didn’t happen overnight—on January 9, silver broke through the $80/oz key resistance level, with an intraday increase of 3.96%. Continuous breakthroughs of key levels indicate strong buying conviction in the market.

Driving Factors: Dual Push of Geopolitical Risks and Policy Expectations

Frenzied Inflow of Safe-Haven Funds

Behind silver’s record high is a reallocation of global safe-haven funds. According to relevant information, under the combined influence of geopolitical instability and changing Federal Reserve monetary policy expectations, the precious metals complex has shown extraordinary strength. This is not just a technical breakout but a true reflection of fundamental conditions.

When market concerns about economic outlooks arise, investors tend to withdraw from risk assets and shift into traditional safe-haven assets like precious metals. The latest non-farm payroll data showed job creation was significantly weaker than expected, immediately reigniting market expectations that the Fed will maintain an easing cycle this year. Easing expectations increase the pressure on the dollar to depreciate, which supports the prices of dollar-denominated precious metals.

Shift in Macroeconomic Policy Expectations

The Fed’s policy stance is quietly shifting. Although the US ISM manufacturing report initially painted a picture of a robust economy, temporarily dampening expectations of a rate cut soon, this bearish sentiment was short-lived. Subsequent employment data reaffirmed economic fragility, and investor confidence in the Fed maintaining easing was reignited.

This change in policy expectations is particularly favorable for precious metals. When markets expect interest rates to stay low for a long time, the relative attractiveness of interest-free assets like precious metals increases.

Connection to the Crypto Market: Binance Launches Precious Metal Perpetual Contracts

More notably, this wave of precious metals rally has begun to transmit to the crypto market. Binance has officially launched gold/silver perpetual contracts, marking the first major exchange to deeply penetrate the traditional commodities sector, symbolizing a complete blurring of boundaries between crypto and traditional finance in 2026.

The significance of this move includes:

• Providing crypto users with direct participation in precious metals markets
• Meeting traditional financial safe-haven demand through crypto derivatives
• Potential amplification of precious metal price volatility within the crypto market

When high-elasticity assets like silver hit new highs, the leverage effect of contracts can amplify profit expectations, potentially attracting more crypto traders to participate.

Key Focus for Next Week

Next Wednesday, the US will release the December Consumer Price Index (CPI), which could greatly influence precious metals’ price trends. If CPI data exceeds expectations, it will reinforce the need for the Fed to maintain easing, further benefiting precious metals; conversely, if it falls short, profit-taking may occur. Additionally, the speeches of multiple Fed officials warrant close attention, as their economic outlook assessments will directly impact market expectations for policy.

Summary

Silver’s all-time high fundamentally reflects global investors’ concerns about economic prospects and expectations of a policy shift by the Fed. This wave of precious metals rally is not only a technical breakout but also a true reflection of a change in fundamental risk appetite. Platforms like Binance launching precious metals contracts indicate that the safe-haven demand from traditional finance is being transmitted into the crypto market. For crypto investors, understanding the macro logic behind precious metals’ movements is crucial, rather than blindly following the trend. Next week’s CPI data and Fed officials’ statements will be key factors in determining how far this rally can go.