Silver prices have reached a new historical high, with an increase of 112% this year, surpassing gold by more than double

The spot silver price has surpassed $61 per ounce, reaching a historic high, with a cumulative increase of 112% this year, far exceeding gold's 60%. COMEX silver briefly broke through $62 per ounce, while the main silver futures contract price on the Shanghai Futures Exchange rose to a maximum of 14,388 yuan per kilogram. The rise in silver prices is mainly due to supply shortages, expectations of interest rate cuts by the Federal Reserve, and risks of currency depreciation. After silver was included in the critical minerals list, the market is concerned about tariffs imposed by Trump. ETF capital inflows support silver prices, with expectations that silver prices could reach $62 per ounce in the next three months and possibly $65 per ounce by 2026