Silver Soars to Record High Amid Tight Supply, Surging Industrial Demand

• Silver price surged 9% to an all-time high of $78.53 an ounce on December 26, driven by tight supply and strong demand.
• Supply issues stem from mine output not keeping pace and over 70% of production being a by-product, limiting quick response to demand.
• Industrial demand is a major driver, with silver increasingly used in renewable energy, EVs, power electronics, and data centers.
• The metal is gaining prominence as a financial asset due to investment flows, savings products, and Reserve Bank of India's recognition as collateral.
• This surge is part of a broader precious metals rally, with gold, platinum, and palladium also hitting record highs.

Why It Matters: Silver's record surge is fueled by industrial demand, tight supply, and its growing financial appeal.