he global silver market is on track to record its fifth consecutive structural deficit in 2025, with tightening supply, surging investor demand and record prices underscoring one of the most volatile years the metal has seen in more than a decade. Presenting at the Silver Institute’s yearly industry dinner in New York this week, Metals Focus MD Philip Newman and director of mine supply Sarah Tomlinson outlined a market shaped by liquidity stress, geopolitical uncertainty and an increasingly bullish investor base. Silver has gained 67% year-to-date to November 6 – outperforming gold, which rose 52%, and the S&P 500, ... (full story)