Silver surges 71 percent in 2025, London vaults fall to lowest levels in years, industrial and EV demand is skyrocketing, and the metal could be on the cusp of a historic rally.

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Silver is experiencing a moment of profound significance, with major implications for the history of hard money, fiat currency debasement, and — most critically — inflation.

We’re seeing one of the most volatile monetary assets approach a breakout above its previous highs, potentially setting the stage for a historic move.

This is what explosive price discovery looks like in action, in my view.

I don’t have a crystal ball, and neither do any of you, but my conviction is based on the inevitability of financial repression driven by the massive macroeconomic imbalances we face today.

Silver could be on the cusp of one of its most important runs in history — and the most striking part is that I believe we may only be getting started.

It’s worth remembering that, even today, silver still trades roughly 80% below its 1980 peak when adjusted for CPI — a metric we all know underestimates real inflation.

This is not the time to underestimate what’s happening in silver, in my view.

Silver has outpaced gold in 2025, with a growth of about 71%, compared to gold’s 54%.

Silver mine production has been decreasing for the past ten years, especially in Central and South America, due to mine closures, resource depletion and infrastructure challenges.

London’s vaults have been emptying rapidly for the past few years. In June 2022, the London Bullion Market Association held 31,023 metric tons of silver. By March 2025, volumes had fallen by around a third to 22,126 metric tons — its lowest point in years.

“At the moment, a standard electric vehicle has about 25 grams of silver, maybe the larger EVs have 50 grams of silver as part of their components,” said Syms.

“If we move into these solid-state silver batteries, each electric vehicle might require a kilo or more of silver,” he added.

And with silver having a high thermal conductivity and a higher electrical conductivity than other metals, as well as increasing demand for EVs, AI and renewables, the metal’s value is likely to keep shining.

“Silver crosses over that bridge between precious and industrial metals, and the way technology is going on, the batteries, the solar panels, it’s got some great use cases as we move into a more electrified world,” said Syms.