Spot silver surged to $75 an ounce on Friday, boosted by strong industrial and investment demand, tightening inventories, geopolitical tensions and expectations of additional U.S. interest rate cuts.

Silver rose 4.02 percent to $74.8 an ounce by 8:28 GMT, after hitting a record high of $75.14 earlier in the session.

Silver has outperformed gold this year, soaring 158 percent year-to-date, well above gold’s nearly 72 percent gain, supported by structural supply deficits, its designation as a U.S. critical mineral and strong industrial demand.

Silver’s relentless surge in 2025 will be remembered as one of the most dramatic revaluations in modern precious metals history, said Saxo Bank in a recent report. Having spent much of the past decade oscillating between being perceived as a monetary metal and an industrial input, silver finally resolved that identity crisis this year by being both at the same time, just as supply constraints became impossible to ignore.

The surge in the price of silver did not happen in isolation. It began with gold. When the gold-silver ratio spiked above 105 in April, an extreme rarely sustained, silver increasingly looked mispriced. That valuation gap became the entry point for both speculative and longer-term investors. Once key technical resistance levels gave way from August onwards, momentum buying accelerated sharply, turning relative value into outright price discovery.

Source: https://economymiddleeast.com/news/silver-surges-to-new-all-time-high-of-75-14-what-is-fueling-the-rally/https://economymiddleeast.com/news/silver-surges-to-new-all-time-high-of-75-14-what-is-fueling-the-rally/