Overview
- The white metal’s implied market value crossed roughly $4.48–$4.57 trillion, temporarily placing it behind only gold and just ahead of Nvidia.
- Prices spiked to $82.70 an ounce before easing to roughly $80, extending a surge that saw silver gain 176% in 2025.
- Strong industrial use in EVs, solar, electronics and AI hardware, coupled with safe-haven buying, continues to support demand.
- The Silver Institute cites a fifth straight annual deficit, with about 1.2 billion ounces of demand versus 1.0 billion ounces of supply in 2025.
- Inventories linked to the Shanghai Futures Exchange hit their lowest since 2015, and a U.S. Commerce Department probe raises the prospect of trade curbs that could tighten supply further.