Silver (XAG) surged in 2025 after breaking decisively above long-term resistance at $50, marking a clear shift in market behaviour. In my view, this move reflects a structural change rather than a speculative spike. It is driven by tightening physical supply, accelerating industrial demand, and a renewed global liquidity cycle. This article examines the macroeconomic forces, technical structure, and intermarket signals that will shape silver’s next significant move into 2026. The supply side continues to deteriorate, and China is at the centre of this shift. Silver inventories in Shanghai Futures Exchange warehouses ... (full story)