The silver’s supply deficit finally caught up with it in 2025. Late last year, the price surged above the $50 resistance that had been in place since the 1980s. The rally continued into the first month of 2026, as the silver price rocketed to over $100 per ounce before correcting and settling in the $80 range. As Metals Focus explained in its World Silver Survey, “Lower inventories and metal being pulled out of London or tied up in exchange-traded products (ETPs) created explosive conditions for lease rates and prices. Against that backdrop, silver delivered a remarkable year.” The speed of the rally was truly ... (full story)