With or without speculators driving up the price, silver demand is surging.
The metal has a superior conductive capacity to other metals, making it irreplaceable for industrial uses. Demand is surging for data centers, EVs and the Chinese green tech sector.
Underinvestment in mines and producers for decades has resulted in a severe deficit.
Since 2021, industrial demand has exceeded global production each of the last five years:
Silver has been in a deficit for six years, with soaring demand for the metal exceeding rising production. (Source: Global Markets Investor)
Herein lies the opportunity. Delivery requests have been met with global inventories. But those inventories are running dry.
The metal’s pop to $120 caught a lot of headlines and attracted speculation on the price, fueled by margin debt.
On January 29, 2026, that spike ended with a historic correction. The price fell from $114 to $78 in minutes. Speculators got squeezed out of the trade, hard.
Since then, the silver price has stabilized around $80 while industrial demand continues to surge. For an interesting way to trade silver as global inventories run dry, click here: Shadow Stocks.
~ Addison
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