Silver Prices Surge to Record Highs Amid Tight Supply and Industrial Demand
Silver prices soared to an unprecedented $62.88 per ounce on Wednesday, marking a historic milestone before settling at $61.96 by market close. The metal's 114.6% rally since January underscores its accelerating momentum, outpacing even gold's gains this year.
Futures contracts mirrored spot prices, climbing 113% in 2025 to breach $61 for the first time. Three catalysts drive the rally: constrained mine supply, safe-haven demand during macroeconomic uncertainty, and surging industrial consumption for electronics and solar panels.
"Silver's dual identity as both an essential industrial resource and a store of value continues to draw in retail and institutional buyers," said Paul Williams of Solomon Global. The metal now offers a accessible entry point for investors priced out of Gold markets while maintaining similar inflation-hedging properties.
