Silver prices broke through the $50/oz mark on Thursday, touching a new all-time high at $50.03/oz in global markets, while on the MCX, silver climbed to ₹1,53,388 per kg. The rally was fuelled by safe-haven demand as the ongoing U.S. government shutdown disrupted economic data releases, deepening concerns about the state of the economy and leaving investors without clear policy signals. Silver gained 2.35% intraday on the move.
The macro backdrop remains highly supportive. Real yields are falling, global debt is at record highs, and central banks are shifting toward easier monetary policies amid slowing growth and rising fiscal pressures. This environment is reigniting demand for hard assets and inflation hedges.
Silver is uniquely positioned among precious metals due to its dual role as both a monetary and industrial asset.
Learn more about silver’s role in portfolios and long-term potential in our guide:
👉 Investing in Silver: All You Need to Know
Green economy demand is a major driver, led by solar photovoltaics, electric vehicles, and advanced electronics. According to the Silver Institute, solar-related demand is expected to rise 35% year-over-year in 2025, accounting for nearly 30% of total global consumption.
India’s battery sector is also gaining momentum — read more on the investment potential here:
👉 The Rise of Battery Stocks in India
On the supply side, structural mine depletion and stagnant recycling activity continue to tighten availability, reinforcing the bullish case for prices.
Here’s a concise historical overview of silver’s past price action and the main drivers behind each major move, covering roughly the past 50 years:
| Era | Approximate Price Range (USD/oz) | Key Drivers |
| 1970s Boom (The Great Inflation) | $1.50 → $50 (Peaked Jan 1980) | Inflation spike, Oil Shocks, Hunt Brothers market corner attempt. |
| 1980–2000 Bust (The Great Moderation) | $50 → $5 (Trough in late 1990s) | High Interest Rates (Volcker Shock), Strong US Dollar, Low Inflation environment. |
| 2000–2011 Bull Run (Post-Dotcom & GFC) | $4 → $49 (Peaked Apr 2011) | Weak US Dollar, Quantitative Easing (QE), Global Economic Growth (BRICs). |
| 2011–2020 Decline (Taper & Tightening) | $49 → $12 (Trough Mar 2020) | Federal Reserve (Fed) Tightening cycle, Stronger US Dollar, improving stock markets. |
| 2020–2025 Rally (Post-Pandemic Inflation) | $12 → $49.6 (Current/Recent High) | High Inflation, surging Green Demand (Solar, EVs), massive Debt creation, Low/Negative Real Yields. |
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