The precious metal has been under pressure for years as data centers and electric vehicles supercharge demand and as new tariffs loom.

Silver prices continued their record-breaking climb, closing above $60 a troy ounce for the first time. Futures for delivery later this month added $2.39 an ounce, or 4.1%, to close at $60.169. The fr

Silver broke $60 an ounce for the first time. Futures hit $60.41. Spot prices jumped 3.1%. SLV soared 105% this year. Industrial demand is rising. Supply is tightening. A Fed 25 bps cut looms. Gold is climbing too.

Among Australian shares, Andean Silver Ltd ( ASX: ASL) was 14.9% higher at $2.15, Silver Mines Ltd ( ASX: SVL) was 5.3% higher at 20 cents, and Mithril Silver and Gold Ltd ( ASX: MTH) was 5.2% higher at 51 cents.

So far in 2025, the price of gold is up about 60 percent, but the price of silver is up more than 100 percent.

The price of silver has hit a record high ahead of an expected US Federal Reserve interest rate cut and as demand for the precious metal from the technology industry remains high. Silver crossed $60 (£45.10) an ounce on the spot market, where the precious metal is bought and sold for immediate delivery, for the first time on Tuesday.

For investors, now is less about chasing quick rebounds and more about anchoring on balance sheets, capacity utilisation and long-term demand visibility,' an analyst said.

Shares Silver Trust ETF is upgraded to a Strong Buy due to robust fundamentals and technical breakout. Learn more about SLV stock here.