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Silver in 2025: Indicators For Savvy Investors
June 2025 – What’s fueling this surge in silver, and could elevated prices be here to stay? Monex and Jeffrey Christian of CPM Group discuss the key factors behind silver’s 13-year high. From global political and economic uncertainty to COMEX futures activity, they break down the key trends driving silver, gold, and other precious metals prices in 2025.
CPM Group, which authors our “Silver Lining in Radical Times” report, provides a data-driven forecast that considers seasonality, macroeconomic pressures, fabrication demand, and investor sentiment. We also address widespread rumors of a sharp price spike in May.
Rising Investor Confidence in Silver
Investors are increasingly turning to silver as a long-term store of value and a key portfolio diversifier. Unlike past market behaviors, notably the evacuation seen during 2013-2015, current investors globally recognize that the present economic conditions signify a longer-term shift rather than short-term fluctuations.
Recent Price Movements: A New Peak
Silver experienced significant price spikes recently, reaching just over $36 per ounce—a level unseen in over 12 years. This recent surge reflects renewed investor interest, driven by growing uncertainty about political and economic stability worldwide.
Factors Behind the Price Surge
Multiple factors contribute to the ongoing strength in silver prices. Investors around the globe have grown increasingly anxious about the global economic and political landscape. The intensification of these concerns has driven investors toward precious metals, including silver, gold, platinum, palladium, and copper. Additionally, rising oil prices and volatility in treasury and government bond markets have further amplified these trends.
The Role of COMEX Futures
Another significant driver behind recent silver price movements is activity in the COMEX silver futures market. Currently, the July COMEX silver contract holds substantial open interest, approximately 591 million ounces. As investors roll forward these contracts into future months or close out their positions entirely, the demand created by these transactions inherently pushes silver prices upward. Historical patterns, such as the April 2011 surge and subsequent correction, highlight how such market behaviors directly influence short-term price movements.
Forecast: Silver’s Sustained High Prices
The immediate forecast suggests silver prices will remain strong, particularly as the July contract rolls approach completion. A slight correction might occur afterward, but prices are expected to stabilize in the range of $34 to $35 per ounce, rather than dropping significantly lower. Ongoing global uncertainties ensure sustained investor interest and market support.
