Silver Rises Over 120% YTD 
Silver’s rally — up 35% in the past 12 months — is being fueled by a mix of industrial demand and safe-haven investment. Uses in photovoltaics, EVs, and electronics have driven consumption to 1.16 billion ounces in 2024, while annual mine supply remains near 1.02 billion ounces, causing structural deficits for five straight years. Since about 70–80% of silver is a byproduct of other mining, production is relatively inelastic. While inflation has cooled slightly, expected U.S. interest rate cuts and a weaker dollar could further boost silver prices. Analyst forecasts vary widely—from $28 to $50 over the next year — but many expect gains of 15–20% in the next two years. Longer-term, some see prices topping $80 by 2030.
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What’s Driving Gold and Silver Prices This Week
Gold and silver whipsawed on conflicting ceasefire signals as Trump paused Iran strikes and Tehran denied any talks. Meanwhile, gas crossed $4 for the first time since 2022 — and Friday’s CPI print could reset inflation expectations.
April 6, 2026
