Silver has experienced a significant surge in 2025, outperforming gold and reaching record highs. This rally is attributed to a confluence of factors including a structural supply deficit, falling inventories, increased industrial demand particularly from solar and electrification sectors, and global monetary easing. Investor rotation from gold seeking higher returns also contributed. China's role as a major silver producer and its influence on the global market are noted. While the strong momentum may be difficult to repeat, experts anticipate continued positive long-term trends for both silver and gold in 2026, with potential consolidation after the 2025 gains.