Silver on Fire: Prices Surge to 14-Year High – Historic Rally Explained
Silver is trading near $48–49 per ounce in early November, up about 65–70% year-to-date after briefly topping $54.50 on Oct. 16, its highest since 1980. Prices plunged 6% on Oct. 17 before stabilizing in the high $40s. Physical supply remains tight, with London vaults under strain and lease rates above 30%. Industrial demand is on pace for a record 700 million ounces in 2025.