Silver reached a record high of $90 per ounce on Wednesday, January 14, 2025, driven by ongoing international trade disputes and rising geopolitical tensions.

The precious metal, often referred to as the “white metal,” surged 5.3% to set the new record. Gold, which hit a high of $4,600 per ounce on January 12, 2025, remained close to its all-time peak, trading within $10 of the record.

The start of 2025 has seen strong performance across precious metals, but silver has outperformed gold, supported by robust investor demand and tightening global supply. Analysts attribute the surge in silver prices, in part, to expectations that the United States may cut interest rates.

In the first week of 2026, silver prices rose by approximately 20%, boosting investor profits compared to previous years. Despite record highs, some experts warn that volatility may increase in the near term, though long-term fundamentals for the metal remain strong.

Major silver producers include Mexico, China, Peru, Chile, and Australia, while top consumers of silver jewelry are India, China, the United States, Thailand, and Italy.