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BRENT CRUDE$82.45+1.2%WTI CRUDE$78.14+1.5%GOLD SPOT$2,342.10+0.4%SILVER$28.15-0.1%COPPER HG$4.52-0.2%URANIUM U3O8$92.00+2.8%LITHIUM CARB$13,400-4.1%WHEAT ZW$562.25+0.1%NATURAL GAS$2.85+3.2%ALUMINUM$2,340+0.6%NICKEL$17,200-1.8%COCOA$7,850+5.4%BRENT CRUDE$82.45+1.2%WTI CRUDE$78.14+1.5%GOLD SPOT$2,342.10+0.4%SILVER$28.15-0.1%COPPER HG$4.52-0.2%URANIUM U3O8$92.00+2.8%LITHIUM CARB$13,400-4.1%WHEAT ZW$562.25+0.1%NATURAL GAS$2.85+3.2%ALUMINUM$2,340+0.6%NICKEL$17,200-1.8%COCOA$7,850+5.4%
Intelligence Engine
Precious Metals · XAG · USD / oz

Silver

Silver remains in a 4-year structural deficit as solar PV demand has stepped to a new plateau. Above-ground inventories have drawn ~25% from 2021 levels. The metal historically lags gold then outperforms 2-3x in the late stage of bull cycles.

Spot
$28.15
Δ 24h
-0.1%
Realized Vol
24.7%
Cycle Phase
Expansion
Price Timeline · 10Y

Interactive History

Hover · Click events
20152016201720182019202020212022202320242025
Annotated Macro Events
2021WallStreetBets Silver SqueezeRetail-driven spike to $30; failed sustained breakout.
2023Chinese Solar Mega-CapacityPV manufacturing scale-up locks in silver thrifting limits.
2024LBMA Vault DrawdownFree-float inventories at multi-decade lows.
Cycle Phase Breakdown

Where Silver Sits in Its Supercycle

15%
40%
25%

Accumulation

10%

Coiled basing.

Early Bull

15%

Deficit recognition.

Expansion

40%

Current — industrial bid layered on monetary.

Peak Euphoria

25%

Gold catch-up scenario.

Distribution

10%

Cycle exhaustion.

Supply & Demand
  • Industrial Demand654 Moz
  • Mine Supply823 Moz
  • Market Deficit 2024-215 Moz
Cross-Asset Correlation
  • Gold
    0.78
  • Copper
    0.52
  • SPX
    0.27
Exposure Vehicles
  • SLV
    iShares Silver Trust
  • SIVR
    abrdn Physical Silver Shares
  • SIL
    Global X Silver Miners ETF
View Full Tracker →
Related in Precious Metals

Gold Spot

+0.4%
$2,342.10
Expansion

Platinum

+0.6%
$945
Accumulation