I thought that silver will be in deficit for the fifth consecutive year in 2025, gold has had a better performance among precious metals, mainly due to macro and geopolitical conductors. According to the World Silver Survey 2025, issued by The Silver Institute, based in New York, during the weekend, Silver’s performance has less flattering compared to gold.
“Having stayed behind the duration of the Rally of the late 2024, we expected Silver to start catching up with Gold Soner later. These expectations have not materialized with much,” said the institute, a non -profit international row that gives it to itssverve itssvervesheshesheshesshevens itsververs iTs it inhallsdverd, drains to his life. Industry.
The gold was summoned at $ 3,326.7 and the weekend, winning 26.75 percent so far in 2025. Comparison, silver, which ruled at $ 32.51 an ounce, has hatred only at 12.57 percent. Previous, gold has increased by almost 40 percent, while silver prices have increased by 15 percent.
Macro, political conductors
At the time the survey was written at the end of March, the gold relationship: silver was quoted a little more than the 90: 1 mark, which is close to the average of the year to date for this measure and around 6 percent higher than the average of 84.8 of 2024, he said.
“Silver’s failure at the launch is mainly due to macro and geopolitical drivers of recent years that mainly support the most widely accepted quasi monetary properties of Gold,” the survey said.
By stating that silver bulls are still disappointed with their performance, the institute said it reflected how the precious metal has fluctuated in relation to gold. Traditionally, silver works better than gold, whose market is less liquid and reflects its greater pricing volatility.
Other factors
“In the meeting markets, therefore, there is an expectation that the silver threw to overcome gold. In addition, the conditions of exceptionally strong supply of Silver in recent years should be more than the survey said,” the survey said. “The survey.” The survey.
However, some of the key participants in the market of the last two years, for example, macro/generalist and sovereign funds, felt comfortable with the depth and tradition of the gold market as a diversifier, but less with the industrial and smaller Silver size attributes. “Its strong conditions of supply demand also had a limited impact on their price, because silver stocks on land still abounded,” the survey said.
Other factors that requested in silver are like an industrial metal and stocks on the ground, he said. The purchase of healthy central banks also gave gold more shine, he thought that silver was won.
Positive conditions
The survey said that for the near future, he believes that the conditions will remain positive for silver. “We believe there is more rise for silver prices. We are sure that in the coming months we will see new cycle peaks, exceeding the levels of 2024 high at levels not seen for many years,” he said.
At some point, he hopes Silver updates with gold, thanks to investors seeking value given their recent low yield. “However, this may not be a story by 2025, given the still adequate silver shares and the current gold offer for gold, which has brought its price to an unknown territory,” the survey said.
However, the increase in silver could be stopped by a lower deficit of 3,659 tons this year compared to 4,632 in 2024.
Towards the end of the year, if there are no more policies of the US policies.
“While continuous uncertainties in other places, along with Silver’s healthy conditions, they support, we see that prices decrease at the end of 2025,” he said.
Posted on April 21, 2025
