The sharp rise in silver this year is the result of multiple factors, including cultural and festive consumption, strong demand from the industrial sector, and persistent supply shortages. Société Générale, a French bank, predicts that the price of silver could reach $100 per ounce by the end of next year.

Since the beginning of this year, the price of silver has been on the rise, even surpassing the traditional " safe-haven asset " gold. On the morning of April 4th, Beijing time, the spot silver price in London was reported at $58.7 per ounce during the day, with an increase of more than 90% this year. The significant rise in silver this year is the result of multiple factors, including cultural and festive consumption, strong demand from the industrial sector, and persistent supply tensions.

First and foremost, the world's largest consumer of silver, India, has seen a surge in demand this year. It is reported that India consumes approximately 4,000 tons of silver annually, mainly for jewelry, utensils, and ornaments. Around 80% of India's silver needs are met through imports, with the United Kingdom being its largest supplier for a long time. As India's demand skyrockets, market pressures quickly translated to London. The market became so tight that some traders had to resort to flying silver instead of using cargo ships to complete deliveries, and the cost of overnight silver loans also surged to a eyebrows-raising 200% annualized.

Another important structural factor that has been a major boost to silver is its industrial use. Silver is the best conductor of heat and electricity among all the metals. Analysis shows that while silver supply has been greater than industrial and consumer demand in the past eight to nine years, this pattern has recently started to reverse.

Finally, the supply side of silver is also under pressure. According to the Global Silver Survey 2025 released by the World Silver Association, global silver mine production has been declining over the past decade. Industry experts point out that only about 28% of global silver mine production comes from "main silver mines", while the rest is mostly by-products of copper mines or gold mines, etc.

Regarding future trends, Société Générale of France predicts that the price of silver could reach $100 per ounce by the end of next year.

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