After an extraordinary rally and sharp year-end swings, silver is cooling in thin holiday markets—but its structural drivers continue to point higher beyond the near term. Silver closed out 2025 having delivered one of the most remarkable rallies in modern market history. Prices surged in near-vertical fashion, lifting the metal to record territory and forcing global markets to take notice. The advance was fueled by a rare convergence of tight supply, strong industrial and investment demand, and momentum-driven buying that intensified as liquidity thinned toward year-end. Moves of that magnitude rarely go ... (full story)