Haciyev Reşit 
Silver has drawn significant attention in 2025 with its rapid rise. On Tuesday afternoon, the metal climbed above $71, breaking its all-time high. Since the beginning of the year, silver has gained 138%, outperforming gold’s 70% increase and matching platinum’s returns. This rally has elevated silver to become the fourth-largest asset in the world by market capitalization.
Precious Metals and Safe-Haven Demand
Analysts attribute the sharp rise in silver and gold to investors seeking safe havens amid increasing risks in equities and digital assets. Gold also broke records on Monday, surpassing $4,500. Key drivers behind the rally in precious metals include expectations of looser U.S. monetary policy, a weaker U.S. dollar, and ongoing global geopolitical tensions.
Goldman Sachs forecasts that gold could reach $4,900 by December 2026. Meanwhile, the U.S. dollar has lost around 10% in 2025, marking its weakest annual performance in eight years. Investors expect further dollar weakness in 2026 if global economic recovery continues and the Federal Reserve maintains an accommodative stance.
The Significance of Silver’s Market Capitalization
Beyond price gains, silver has reached a strategic position in terms of market capitalization. It now ranks as the fourth-largest asset globally, following technology giants such as Apple and Nvidia. Silver’s market cap is estimated at around $4 trillion, placing it only about $30 billion behind Apple, while Nvidia ranks second with a market value of approximately $4.5 trillion.
Experts note that investors’ growing allocation to silver reflects both short-term risk aversion and long-term portfolio diversification strategies. Silver’s record levels highlight not only potential opportunities but also the importance of closely monitoring global economic and geopolitical developments.
Assessment
Silver’s 138% surge in 2025 is not driven solely by short-term speculation. It also reflects strong safe-haven demand linked to global economic uncertainty, monetary policy expectations, and geopolitical risks. Gold’s parallel rise reinforces the broader trend of increased interest in precious metals.
As silver’s market capitalization approaches $4 trillion, it is clear that investors are giving meaningful weight to precious metals alongside digital assets and equities. Analysts emphasize that developments in the U.S. dollar and interest rate policies will continue to play a decisive role in shaping silver prices and the broader precious metals market.
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