Silver prices surged above $87 per ounce for the first time in history, extending a powerful rally that has lifted the metal more than 210% over the past 13 months. The move marks one of the strongest commodity performances of the current cycle.
The rally is driven by a combination of tightening supply, strong industrial demand, and rising investor interest. Silver plays a critical role in solar panels, electronics, electric vehicles, and advanced manufacturing, while mine supply growth has lagged demand. Recent export restrictions and inventory drawdowns have further tightened the physical market.
Investor flows have also accelerated as silver benefits from inflation hedging, diversification demand, and spillover from record-high gold prices. Analysts note that while momentum remains strong, volatility is increasing as prices move deeper into uncharted territory.
