The precious metal – silver – has seen a more than 3% increase in its spot price to above US$69 ($103.88) an ounce at the beginning of this week as 2025 is set to wrap up.
According to Trading Economics, this price increase is driven by expectations of further Federal Reserve rate cuts and escalating geopolitical tensions. Recent US data point to moderating inflation and a softer labour market, giving the Fed more scope to ease policy, with markets pricing in two additional rate reductions in 2026.
Over the past month, silver’s price has increased nearly 35% and is up 132.8% compared to the same time last year.
During 2025, silver has been quietly stealing the spotlight of its own in comparison to gold’s performance which has continued to break several price records throughout the year.
In mid-October 2025, the precious metal’s spot price had jumped 3% to above US$52.35 an ounce in light of US-China trade concerns growing.
While gold has historically served as a monetary standard, with its convertibility and stability long making it a pillar of global economies, silver is also used as currency but its industrial and medical applications create constant demand that distinguishes it from its yellow metal cousin, as previously reported.
No longer just gold’s understudy, silver’s role as a precious and industrial commodity has set the stage for one of its stronger performances in over a decade.
On the industrial side, silver’s demand remains robust, supported by growth in the solar, electric vehicle, and data centre sectors.
Industrial demand now accounts for 59% of total silver usage, led by technologies such as solar panels, electric vehicles, and consumer electronics, as Mining.com.au reported.
Write to Aaliyah Rogan at Mining.com.au
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