Overview
- Silver spiked to about $82.70 per ounce in early Asian trading before easing to roughly $80.80, briefly valuing the market above Nvidia’s near $4.55 trillion.
- Gold reclaimed the top spot among global assets at roughly $31.1–$31.3 trillion as silver and Nvidia continued to trade places for second.
- The Silver Institute reported a fifth straight annual deficit for 2025, with demand near 1.2 billion ounces against about 1.0 billion ounces of supply.
- Industrial pull from EVs, solar panels, electronics and AI hardware combined with safe-haven buying has underpinned silver’s outsized gains, including a roughly 176% rise in 2025.
- Fragile market plumbing remains a concern, with low Shanghai Futures Exchange inventories and metal concentrated in New York, while a U.S. Commerce Department probe into critical mineral imports adds trade-policy uncertainty.