Overview
- Vanda Research reports roughly $921.8 million of retail purchases of silver-backed ETFs over the past 30 days, including a $69.2 million one-day inflow into iShares Silver Trust.
- Spot silver set intraday highs just above $93 an ounce this week and traded near $90 on Friday, marking a gain of about 210% since early 2025.
- The iShares Silver Trust has climbed about 200% over the last year, while an MSCI index of silver miners has risen roughly 225%.
- Vanda characterizes the buying as structural accumulation rather than a meme-style spike, as Invesco’s Kathy Kriskey cautions that the rally’s speed warrants care.
- The U.S. Mint says it may temporarily pull some silver coin products while it reviews pricing in response to the rapid move in prices.