A report by Agarwood Capital suggests that silver is set for a structural bull market over the next three to five years. The analysis highlights three key factors: the decline of the dollar's dominance and expanding fiscal deficits driving a revaluation of precious metals; robust industrial demand, with 2024 industrial silver use projected at 680 million ounces, nearly 60% of total demand, fueled by sectors like photovoltaics, electric vehicles, and AI data centers; and rigid supply conditions leading to persistent structural deficits. Silver's dual role as both a monetary and industrial asset often results in higher volatility and gains compared to gold under similar macroeconomic narratives.