Chart 12M shows that Silver has escaped from a base longer than a decade. The nearly doubled increase in 2025 is just the opening phase, exactly like the structure before 1979: moving sideways for many years, deep accumulation, then shooting straight up as if there is no resistance.
What is noteworthy is that the buying force this time is not short-term, but rather cyclical capital. When commodity assets begin to compress for a long time and surge strongly like this, the market often enters a no-brakes phase. The old peaks around 50 are just a stopping point.
