Silver tops $79 per ounce in 2025 as investors use futures, ETFs and physical bars

On December 26 2025, silver climbed above $79 per ounce for the first time, having risen more than 150% since the start of the year while gold gained about 70%. Trading spans OTC transactions in London, futures on COMEX and Shanghai, large ETFs such as the iShares Silver Trust, and physical bars, coins and mining stocks. Tight supply, rising solar demand and retail hoarding have helped push prices higher, though some traders warn of extreme volatility and the risk of sharp reversals.