Will the price of silver hit $200 per ounce this March? Here's what to consider.

After the price of silver smashed through a record $100 per ounce milestone in late January, many investors would be forgiven for expecting the metal to continue its remarkable surge upward largely unimpeded. After all, that's what largely happened with gold, silver's counterpart, rising in price from under $3,000 in early 2025 to comfortably over $5,000 in early 2026. And with silver more than doubling over that same period, investors ranging from beginners to more experienced likely expected a similar pattern.

But that's not what happened in February. Silver sharply declined from $116.61 per ounce on January 28 to $70.90 for the same amount of metal on February 5, barely a week later, according to a silver price chart from Priority Gold. That marked an almost 40% decline, which is steep even for a metal known for significant price volatility. Still, that all being noted, the price is rising again, and now, at the start of March, it's often been listed in the $80 to $89 per ounce range. 

That leads to an inevitable question: Will the price of silver continue to rise this month, and could it even hit a new record of $200 per ounce? While predicting the future price movement of any asset is always difficult, particularly with an alternative one like silver, there are some items investors may want to consider now to better help them answer this timely question. Below, we'll break down three specific ones.

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Will the price of silver hit $200 per ounce this March?

Silver does have the potential to move toward a new price record this month, even if it's not quite as high as investors may prefer. Here are three things to consider about silver and its price movements right now:

The changing economic conditions

The factors that often drive gold's price are many of the same ones that can drive silver's price up, many of which are prevalent right now – geopolitical tensions, market uncertainty, interest rate policy (the Federal Reserve meets again later this month) and more. But silver has other industrial uses that gold does not, which could, in turn, also cause the price of the metal to increase further this month. 

Will it go to $200 per ounce or past it? No one knows for sure, but if any of the aforementioned factors become more considerable, it wouldn't be surprising to see silver priced around that mark, even if it declines again shortly after.

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The price volatility that silver is known for

At the same time, the volatility of silver's price is known for can't be discounted, as it's one of the key differences between gold and silver. In other words, even if the price of the metal breaks the $200 mark this March or comes close to it, there's no guarantee that it will stay there for particularly long. 

It could even fall significantly, as it demonstrably did after rising to the $100 price point in recent weeks. This doesn't mean that silver isn't still worth investing in (it is), but it does require some closer inspection, particularly for those who are looking to buy low and sell high for a quick profit, as that may be difficult to do effectively now.

The risk of waiting to invest

Constantly evolving economic conditions and a volatile silver price mean many things right now, but perhaps the most important is the risk of waiting to invest. Remember, even at today's $80 price point, silver's value has doubled over the past year, so waiting for an ideal time to get started or for a minor drop to take action may be dangerous.

After all, there's no telling when the price of silver will stop falling into this range permanently. Nor is it needed right now with silver being ubiquitous, available through precious metal companies, local pawnshops and jewelers, and even big box retailers like Costco and Walmart. So, be strategic in your approach, but don't wait too long to act, either.

The bottom line

Silver could realistically hit or even surpass the $200 per ounce record this March, giving current investors reason to celebrate and prospective ones an urgent push to get started before that plays out. That said, silver investing should be approached judiciously at all times, but particularly this March, despite its inflation-hedging and portfolio diversifying features being well known. Most experts recommend limiting precious metals to a maximum of 10% of your overall portfolio, and if you already have some silver and gold, that threshold may be lower. So, if you're planning to buy in, you may want to consider speaking with a precious metals company representative who can answer your questions and help you get started judiciously and cost-effectively.