Gold and Silver Prices Reach Record Highs

Precious metal prices surge, drawing crowds to Houston dealers

Published on Feb. 21, 2026

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Gold and silver prices have skyrocketed over the past year, with gold reaching over $5,600 per ounce and silver climbing 300% to around $120 per ounce. The surge in prices has led to a 50% increase in sales at Houston precious metal dealer U.S. Coins and Jewelry, as investors and collectors seek to cash in on the rising market.

Why it matters

Precious metals like gold and silver are often viewed as 'safe haven' assets during periods of economic or global instability, and the current geopolitical uncertainty has fueled heavy buying from both large-scale investors and individual customers. The dramatic price increases have created opportunities for sellers but also raise questions about the sustainability of the rally.

The details

Gold prices have nearly doubled from around $2,300 per ounce a year ago to around $5,000 currently, while silver has surged from $30 to $120 per ounce, a 300% jump. The surge in prices has led to a 50% increase in sales at Houston precious metal dealer U.S. Coins and Jewelry, as customers ranging from collectors to everyday individuals look to cash in on the rally.

  • A year ago, gold was trading near $2,300 per ounce.
  • In January 2026, gold prices surged to over $5,600 per ounce before settling back to around $5,000.
  • A year ago, silver was selling for about $30 per ounce.
  • Today, silver has climbed to roughly $120 per ounce, a 300% jump.

The players

Matthew Duncan

Co-owner of U.S. Coins and Jewelry in Houston.

Roger Hummel

A customer who was selling gold jewelry to buy more silver.

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What they’re saying

“At 40 years of our company, we have not seen anything like this before.”

— Matthew Duncan, Co-owner of U.S. Coins and Jewelry

“I think silver will quadruple or hit five times the price it is now.”

— Roger Hummel

The takeaway

The surge in gold and silver prices has created both opportunities and challenges for Houston's precious metal dealers and investors. While the rally has boosted sales and profits, it also raises concerns about the sustainability of the price increases and the potential risks for those looking to cash in on the market.