Overview
- Spot and futures prices briefly reached $84.01 per ounce overnight before dropping as low as $71.89 and later stabilizing in the low-to-mid $70s.
- Heavy buying by Chinese investors drove a rare Shanghai–London premium that at times exceeded $8 per ounce, highlighting tight local supply.
- Structural demand remains robust, with analysts estimating the solar sector alone consumes roughly 30% of annual silver output.
- Silver is still up roughly 160%–180% for 2025, far outpacing gold, as thin liquidity and speculative flows intensified short-term swings.
- Trader chatter linked fresh enthusiasm to an Elon Musk post, while supply is seen as slow to respond and large ETFs such as iShares Silver Trust hold about 529 million ounces.