Retail Investors Fuel Silver Surge: Record Inflows Create Crowded Trade

• Individual investors are pouring record amounts of cash into silver, making it the most crowded commodity trade, according to Vanda Research.
• In the last 30 days, retail investors bought $921.8 million in silver-backed ETFs, with iShares Silver Trust seeing its second-largest retail inflow day recently.
• The iShares Silver Trust ETF is up 31.3% this year and 210.9% over the last 12 months, with silver prices hitting new highs.
• The MSCI ACWI Select Silver Miners Investable Index, tracking silver mining stocks, has also surged 225% in the past year.
• Unlike the 2021 'Silver Spike' driven by meme stocks, Vanda Research suggests the current rally is a structural accumulation, positioning silver as a core macro trading asset.

Why It Matters: Retail investors are driving an unprecedented, structurally-backed surge in silver, making it a key macro trading asset.