Silver is in rings and other jewelry. But the metal has more uses. You can find silver in light switches, smartphones, and solar panels. Since January 2025, the price of silver has more than doubled. On December 9, it went past $60 an ounce for the first time ever — and that’s a record!
Why is silver pricier than usual? One reason is that the U.S. dollar’s worth has gone down. When the dollar is worth less, some investors look for safe goods to buy that will hold their value better than the dollar does. buy up precious metals like silver and gold. Gold prices also set records this year.
Another reason for the big jump is tariffs. Tariffs are taxes. The United States government recently added silver to a list of important metals that could get tariffs. This could mean new taxes on silver coming into the country. Some investors started buying more silver just in case, which pushed the price up even more.
A third reason for silver’s rise is because of and . Silver is used to make all kinds of goods. Companies all over the world need lots of silver, but mines can’t produce enough of the material. India is a country with many silver mines, but even that nation is buying up huge amounts of silver.
Because of all this extra interest, silver mining companies are having a great year. Their prices have shot up alongside silver’s value.
Some experts think silver’s price will stay high in the future — between $50 and $75 per ounce next year. Do you think silver’s value will stay shining?
By Ryan Cramer
Updated December 11, 2025, 5:00 P.M. (ET)
