SILVER ! Prices have climbed 103% year-on-year and have crossed into the high fifty-dollar zone, with brief spikes above 59 dollars an ounce.
Year to date, the metal has roughly doubled, which puts it ahead of gold and several risk assets.
Investor vehicles have been absorbing large amounts of metal, and ETF holdings have now gone past 1.1 billion ounces, helped by strong monthly inflows through late 2025.
The rupee’s weakness has added extra heat because every dollar move lifts domestic prices even further.
Retail buyers who believed gold had already completed its season are now shifting to silver.
But the most interesting part is that silver is no longer simply responding to investor psychology.
Its industrial story has become the main driver.
For years, it was treated as a precious metal with a little industrial use on the side.
Now the roles have reversed.
