Summa Silver Corp. (TSXV: SSVR, OTC: SSVRF, FRA: 48X)
Silver Lives Here
On Friday (February 14), spot silver rose by 2% to $33 per ounce, reaching its highest point since late October at $33.41. Previously, on October 22, 2024, silver hit its decade-long peak of $34.87 per ounce. Following gold’s ongoing record-breaking highs, some analysts predict that silver investors may target a price close to its 10-year high of $35 per ounce. However, there is cautious optimism as silver’s higher volatility and relatively underwhelming performance compared to gold in 2024 have sparked mixed sentiments.
According to independent analyst Ross Norman: “Silver has always been the laggard, often referred to as the Cinderella metal, as it tends to miss the ball. That being said, silver is now awakening, having broken past key technical resistance levels. If this momentum continues, silver could challenge the $35 benchmark.”
As both a precious and industrial metal, silver has unique dynamics driving its value. After a 21% increase in 2024, silver has already risen by 14% in 2025 as of now, supported by factors similar to those favoring gold—most notably, fears of a U.S. proposed import tariff sparking a trade war that has propelled silver prices upward.
Adding to silver’s support, the gap between COMEX gold futures and London spot gold prices has widened sharply in recent weeks. Spot gold even hit an all-time high of $2,942.70 per ounce on Tuesday. Meanwhile, copper prices reached their three-month high in London on Friday, further aiding silver’s market momentum.
StoneX analyst Rhona O’Connell noted in a recent report, “Historically, silver has displayed higher volatility compared to gold. When gold makes decisive moves, silver’s price fluctuations are typically 2.0 to 2.5 times larger.”
Independent metals trader Tai Wong commented on silver’s recent performance: “Last year’s trading range was wide, from $22 to $35. The previous year, it was $19 to $27, which formed quite early in the year. It’s somewhat disappointing that despite gold hitting 40 record highs in 2024, silver recorded none.”
Approximately half of silver’s demand stems from industrial applications, which highlights its dual role in global markets. If trade wars dampen global economic growth, it could pose headwinds for silver prices due to its reliance on industrial demand.
Despite these challenges, silver’s strong upward momentum driven by market dynamics and its historical tendency to outperform gold in bullish markets make it a compelling opportunity for investors seeking higher returns.
