Key PointsGeopolitical and trade policy factors have driven silver prices lower in 2026.AI data center demand for silver remains firmly in place, however.These 10 stocks could mint the next wave of millionaires › Silver went on a tear in 2025, more than doubling in price from about $30 an ounce to almost $78. It then peaked at around $115 an ounce in late January 2026 before prices began to fall. It's now trading below $75 an ounce. That's a dro…