Silver Shines at Highest Price Since 2012 on Perfect Storm of Demand

Silver maintained its position near $36.40 per ounce on Monday, marking the highest price point in 13 years.

The rally is driven by three key factors: surging industrial demand from solar panels and electronics, a fifth consecutive year of supply deficits, and increased safe-haven buying due to the Israel-Iran conflict.

Industrial applications now account for more than 50% of silver consumption globally, highlighting the metal’s critical role in the green energy transition.

While supply shortages are expected to ease slightly in 2025, the structural supply-demand imbalance continues to support higher prices.