Silver wrapped the week ended 26 December 2025 on a robust word, rising 18.1% to $79.32 per ounce from a gap value of $67.16.
This efficiency marks silver’s greatest Christmas week on document, surpassing the 17.8% surge recorded within the week ended 20 July 2020, when costs climbed sharply as buyers sought safe-haven property in the course of the COVID-19 disaster.
The steel has had an distinctive yr in 2025, rising greater than 174% yr so far, with 9 of the eleven months to date ending greater and a sustained bullish run extending from June into late December.
As of the week ended 26 December 2025, silver has outperformed gold, which has risen 72.7% year-to-date, with a latest transfer above $50 per ounce possible supporting the continuing rally.
What value motion is saying
Analysts say silver’s latest value surge has been pushed by each technical and basic components.
The latest break above the $50 mark, specifically, possible sparked a technical rally, supported by expectations of rate of interest cuts and tightening provide in vaults and exchanges.
- Traditionally, $50 has been a robust resistance degree for the commodity, with earlier makes an attempt to breach it in January 1980 and April 2011 failing to carry.
In mid-October 2025, silver briefly crossed $50, closing the week ended 13 October at $51.86. Buyers, nevertheless, appeared to attend for a pullback to round $48.30 and affirmation of additional upside earlier than absolutely committing.
When silver broke the $50 resistance once more within the week ended 24 November 2025, it possible triggered a robust rally, attracting extra buyers and lengthening right into a five-week profitable streak via the week ended 26 December 2025.
On the basic facet, silver continues to learn from strong demand in electrical automobiles, photo voltaic vitality, and semiconductor information facilities, alongside tighter provide and the prospect of charge cuts.
Collectively, these components have possible supported and sustained the rally, making silver one of many standout performers in 2025.
Favorable components
UBS analyst Giovanni Staunovo says the prospect of decrease U.S. rates of interest, together with different market components, is “supporting demand for gold and silver, lifting each metals to new highs.”
Silver has surged this yr on the again of charge cuts, sturdy demand from AI information facilities, tight provide, and tariff uncertainties.
Merchants predict the U.S. Federal Reserve to chop charges twice in 2026, whereas requires looser financial coverage from U.S. President Donald Trump are additionally supporting demand for valuable metals, which don’t yield a return.
Sturdy demand for silver, notably since 2024, has additional fueled investor curiosity and supported the rally.
Provide deficit
Industrial demand for silver reached 680.5 million ounces in 2024, up 4% from the earlier yr, marking a document excessive for the fourth consecutive yr, in line with the Silver Institute.
Progress was largely pushed by structural positive aspects within the inexperienced financial system, together with funding in grid infrastructure, car electrification, and photovoltaic (PV) functions, whereas rising AI-related demand supported elevated shipments in client electronics.
Consequently, world silver demand outpaced provide for the fourth straight yr, making a structural market deficit of 148.9 million ounces in 2024.
Over the interval from 2021 to 2024, the cumulative deficit totaled 678 million ounces—roughly equal to 10 months of world mine manufacturing in 2024.
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