Safe-haven demand in precious metals has historically concentrated in gold, which benefits most directly from monetary uncertainty, geopolitical instability, and concerns about central bank policy credibility. Silver occupies a distinct position within the same asset class, functioning simultaneously as a monetary hedge and an industrial input metal. This dual identity means that when gold attracts defensive capital, silver frequently follows, but with higher sensitivity to incremental flows given the relative size of its market. In early 2025, gold's surge to record levels drew renewed investor attention toward ... (full story)