19-Nov-2025 10:47

Silver advanced toward $51 per ounce on Wednesday, extending its rally for a seventh straight month and delivering a remarkable gain of more than 70% this year. The metal has thrived in its dual identity, drawing strength from both precious metal safe-haven flows and resilient industrial usage. The Silver Institute's latest release underscores a transformative year marked by record prices, a severe liquidity squeeze pushing lease rates to unprecedented levels, and heavy deliveries into CME vaults amid escalating tariff anxieties in the US. Silver's formal designation as a critical mineral has amplified its strategic relevance, especially against a backdrop of intensifying macroeconomic and geopolitical uncertainties. This environment has driven investors to expand their exposure to precious metals for diversification, allowing investment demand to overshadow weakness across all major demand segments. Despite global supply rising 1% and overall demand projected to fall 4%, the market remains in a structural deficit for a fifth consecutive year. This persistent shortfall has reinforced silver's upward momentum, enabling it to outperform gold's 52% rise and the S&P 500's 14% gain so far in 2025.

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