Overview
- Retail investors bought about $921.8 million of silver-linked ETFs in the past 30 days, and iShares Silver Trust logged a $69.2 million retail inflow in one day, its biggest since 2021.
- Spot prices set a new high near $93 this week and hovered around $90 on Friday, extending a roughly 200% gain over the past year.
- Vanda Research describes the move as structural accumulation and says investors are treating silver as a core macro trading asset rather than a speculative bet.
- Saxo Bank’s Ole Hansen warns that price-sensitive users may cut purchases or seek substitutes, and Chinese solar makers Longi and Jinko say they will replace some silver with cheaper metals.
- The U.S. Mint said it may temporarily remove some silver coin products from sale while it reviews pricing in response to the rapid rally.