Silver Prices Expected to Rise Further Amid Growing Demand in Tech and Energy
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The market for silver in recent times has been performing exceptionally well, continuing the previous rising trend that has marked its strong performance since January.
Last Wednesday, silver futures hit over $67 per ounce on COMEX markets, and prices in Asia have even surpassed this level. As it stands, this current development signals a robust demand in Eastern markets, where higher prices are being set as local markets seek to become price leaders.
Rising Demand for Silver in Technology and Energy
Despite reaching record-high prices, experts believe silver’s value will continue to increase due to a combination of factors. Beyond investment demand, which is currently on the rise, and due to usage in the industrial sector, silver has recently been added to the U.S. list of important minerals.
As it stands, its role in the production of photovoltaic cells, which are used in solar panels, and its essentiality for the operation of data centers due to its excellent electrical conductivity cannot be underestimated.
To this end, Michael Steinmann, the CEO of Pan American Silver, told CNBC that the demand for silver in these industries is growing, with a limited supply after forecasting in the near term. He also pointed out that no major silver mining projects are expected to start soon, further establishing its impending rising value.
Supply Deficit and Potential for New Technologies
Silver’s price boost is also supported by ongoing supply shortages, as the metal has been in a deficit for five consecutive years. At the moment, this supply crunch has been pushing prices higher, making experts resolve to the fact that this trend may continue. Furthermore, it has been rumored that BYD, the world’s largest electric vehicle (EV) company, intends to embark on a new silver solid-state battery program. This could further increase demand for silver, as experts expect that silver prices could keep climbing due to upcoming demand.
Right now, Silver’s strong performance seems not to be happening in isolation. Copper, another metal crucial to the existence of many industries in 2025, has been showing a trend of rising prices.
To this end, these metals, due to their value in the global industries, are becoming valuable and dearer as a result of their vital role in the technology and energy sectors.
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