Lisi Quant Talks

The Rise of Silver: Safe Haven or Solar Boom?


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The Podcast explores silver's current market surge, hitting a 12-year high in 2025, and examines whether it’s driven by its status as a safe-haven asset or its role in the solar energy boom. Silver’s price has risen 18% year-to-date, though it remains well below its inflation-adjusted historical peak of $190-$200 (from $49.95 in 1980, driven by the Hunt brothers’ market manipulation). Key drivers include safe-haven demand amid geopolitical tensions, inflation fears, and U.S. fiscal concerns, alongside a solar-powered demand surge, with solar panels consuming 19% of global silver supply in 2025 due to the green energy transition. Silver’s supply—70-75% from byproduct mining (copper, lead/zinc, gold) and 25-30% from primary mines—has been in deficit since 2021. Despite its volatility and a gold/silver ratio suggesting undervaluation (current prices at $33-$34 vs. a potential $51), silver’s future hinges on economic conditions, U.S. policy under Trump, and global renewable trends. The text concludes that silver is both a hedge against instability and a "climate commodity," with its trajectory uncertain but promising.

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Lisi Quant TalksBy Andrea Lisi