The Metal Tech Can't Quit: Silver, To Scale
In January 2026 silver broke a record that had stood since 1980 - then crashed. Underneath the frenzy, a quieter story: technology, and solar above all, quietly turned silver into an industrial metal, and the world has used more than it mined for five straight years. But the deficit didn't cause the spike - and telling the structural story apart from the speculative one is the whole point.
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Data sources & references
01The Silver Institute / Metals Focus — World Silver Survey 2025
02International Energy Agency — Renewables 2024
03U.S. Geological Survey — Mineral Commodity Summaries 2025
04LBMA — Precious Metals Market Report