Silver prices have surged over 114% in 2025, reaching a record high of $62.88 per ounce. This significant rally is attributed to a combination of tight supply and robust industrial demand from sectors such as solar, electric vehicles, and artificial intelligence. Additionally, investors are increasingly turning to silver as a protective asset. Analysts, including Paul Williams and Philippe Gijsels, forecast further gains, suggesting silver could reach $100 by 2026. In comparison, gold has risen 60% year-to-date, with the gold-silver ratio dropping to 68, marking its lowest level since 2021.