Silver Rises Over 120% YTD 
Silver ETFs are now at the center of the metal’s bull run, with inflows accelerating amid tightening supply, rising industrial demand, and trade tensions with Mexico. ETFs like SLV and SIVR have attracted massive interest, driving a sharp squeeze in physical silver markets, especially in London.
With a 35% YTD gain in silver and a persistent supply deficit forecast by the Silver Institute, silver is becoming the go-to asset for investors priced out of gold. The gold-to-silver ratio at 86 still suggests silver is undervalued. As gold ETF flows cool, silver ETFs have become high-conviction trades, especially for cost-conscious retail investors.
