Silver All-Time High

Silver's all-time high of approximately $50 per ounce was set in January 1980 during the Hunt Brothers' legendary attempt to corner the global silver market. For over 45 years, that number has served as an almost mythical psychological barrier -- a price that silver has approached but never definitively broken. The closest attempt came in April 2011 at $49.51.

• Solar Panel Demand – The photovoltaic industry consumes over 140 million ounces annually and is growing 20-30% per year. Silver paste is critical for solar cell conductivity and has no viable substitute at scale.
• Electric Vehicles & 5G – EVs use roughly twice the silver of conventional cars, and 5G infrastructure requires silver-heavy components. Both sectors are in early-stage global rollouts.
• Supply Constraints – Primary silver mine production has plateaued, and 70% of silver is mined as a byproduct of gold, copper, and zinc -- meaning supply cannot quickly respond to rising prices.
• Investment Demand – The Reddit / WallStreetBets silver squeeze movement brought a new generation of retail investors into physical silver and silver ETFs, adding a persistent demand layer.
• Gold-Silver Ratio – The historical average ratio is roughly 60:1. When the ratio stretches above 80:1, silver has historically outperformed gold in the subsequent rally, suggesting catch-up potential.