Silver’s Revenge: The ‘Other Metal’ Is Finally Having Its Moment

Silver is having a moment. Prices have been on a tear lately, breaking records and stealing the spotlight from gold. Once dismissed as “poor man’s gold,” the metal is suddenly looking like the star of 2025 — and this rally isn’t coming out of nowhere. Let’s unpack what’s really driving this silver surge, why we’ve seen this movie before, and which stocks are catching the shine. Separately see: Wheaton Precious Metals Glitters as Gold Breaks $4,000.

Photo by Clker-Free-Vector-Images on Pixabay

The World Can’t Get Enough Silver

Here’s the big picture: silver is the ultimate multitasker. It’s both a precious metal and an industrial workhorse. On one hand, it’s a safe haven when inflation rises or central banks start cutting rates. On the other, it’s essential for clean energy — especially in solar panels, EVs, 5G tech, and semiconductors.

That combo means demand is coming from everywhere. Solar manufacturers are buying it for its conductivity, while investors are hoarding it as protection against a shaky global economy. When those two forces line up, silver doesn’t just climb — it sprints.

A Tight Supply Makes It Even Hotter

Here’s something most people don’t realize: silver isn’t mined much on its own. It’s mostly a by-product of copper, zinc, and gold mining. So even if prices rise, miners can’t just “turn up the silver tap.” Supply stays tight — and this year, global inventories in London and New York have hit record lows. Traders are literally paying premiums for physical delivery, which is Wall Street-speak for “there’s barely enough to go around.” That’s a recipe for a squeeze — and fast price jumps.

Resilient demand is one of the factors we take into account in our High-Quality portfolio, which has outperformed the S&P 500 and achieved returns greater than 105% since inception.

Inflation, Interest Rates, and the Fear Factor

When central banks hint at rate cuts, investors usually start shifting to assets that don’t pay interest — like gold and silver. But silver’s cheaper price tag means it often sees bigger percentage moves when sentiment flips bullish. With inflation still sticky and rate cuts back on the horizon, silver’s role as an inflation hedge is suddenly cool again.

And then there’s the “fear trade.” Wars, supply chain issues, and geopolitical stress all make investors reach for something tangible. Silver just happens to look shiny and useful.

We’ve Been Here Before

This isn’t the first time silver has gone wild.

• 1980: The famous Hunt Brothers tried to corner the market, and silver shot from $6 to $50 an ounce — before crashing spectacularly on “Silver Thursday.”
• 2011: After the financial crisis, investors piled in again. Prices doubled in a year, hitting nearly $50 before the party ended.
• 2020: Silver surged more than 50% during the pandemic stimulus frenzy.

Each time, it followed the same pattern — explosive upside when money floods in, followed by a pullback when the excitement fades.

But here’s the twist this time: the industrial story is stronger than ever. The green transition, electrification, and tech demand give silver more staying power than in those past cycles.

Stocks That Are Riding the Silver Boom

Investors aren’t just buying the metal — they’re also jumping into silver miners that benefit directly. A few names to watch:

• Wheaton Precious Metals (NYSE: WPM): Up sharply this year as silver and gold prices climb. Wheaton’s streaming model gives it leverage to metal prices without the mining headaches.
• First Majestic Silver (NYSE: AG): A pure-play silver miner with operations in Mexico — its stock tends to amplify silver’s moves.
• Pan American Silver (NASDAQ: PAAS): One of the largest silver producers globally; its shares have been rebounding as spot prices spike.
• Hecla Mining (NYSE: HL): America’s biggest silver producer; the stock has gained traction with U.S. investors seeking exposure.

All of these names have surged along with silver — some by 30–60% year-to-date — and could keep climbing if the rally has legs.

What’s Next for Silver?

Here’s the million-dollar (or maybe $65-per-ounce) question: can silver keep running?

If industrial demand stays hot and central banks keep leaning dovish, silver could easily push toward new all-time highs. Analysts believe that prices could climb as high as $65/oz by 2026 — that’s another 20–25% upside from here.

But investors should remember: silver moves fast both ways. If rates rise again or the economy weakens sharply, the rally could lose steam. Historically, silver corrections can be brutal.

The Bottom Line

Silver isn’t just shining — it’s glowing. The mix of green-tech demand, tight supply, inflation hedging, and investor excitement is creating a perfect storm for the metal. Yes, it’s volatile. But this time, there’s more than just hype behind the move. Whether you’re holding the metal, an ETF, or mining stocks, silver’s comeback story is one of the most fascinating trades of 2025.

If you want upside with a smoother ride than an individual stock, consider the High Quality portfolio, which has outperformed the S&P, and clocked >105% returns since inception.

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