Silver Surges Past $60 per Ounce for the First Time

Narrative A

Silver's explosive rise past $60 reflects a genuine supply crisis that markets are only beginning to recognize. Mining capital expenditure has collapsed to decade lows while industrial demand from solar, EVs and semiconductors surges, creating a structural deficit of 820 million ounces since 2021. The silver-to-oil ratio hitting its second-highest level since World War II proves the physical shortage is far more severe than perceived.