The price of silver has broken the US$60 per ounce mark for the first time, sending the share price of Australian silver companies soaring.
The Australian was reporting on Wednesday morning that the price of silver futures closed up 4.1% in overnight trading to US$60.17, with the price more than doubling over the past year.
Among Australian shares, Andean Silver Ltd (ASX: ASL) was 14.9% higher at $2.15, Silver Mines Ltd (ASX: SVL) was 5.3% higher at 20 cents, and Mithril Silver and Gold Ltd (ASX: MTH) was 5.2% higher at 51 cents.
Shares in Unico Silver Ltd (ASX: USL) were also sharply higher at 67.5 cents, up 10.7%.
Support looking strong
Minelife analyst Gavin Wendt said in a note to clients in recent days that silver has had a strong couple of weeks, with strong inflows into exchange-traded funds adding more impetus to the price rally.
As he said:
Total additions to silver-backed exchange-traded funds (ETFs) in the four days through Thursday were already the highest for any full week since July, a strong indicator of investor appetite despite signals silver’s gains may be overdone.
Mr Wendt said on a fundamental basis, the support for silver would remain strong.
Silver prices have roughly doubled this year, outpacing a 60% rise in gold. The rally has accelerated in the last two months, in part thanks to a historic squeeze in London. While that crunch has eased in recent weeks as more metal was shipped to the world’s biggest silver trading hub, other markets are now seeing supply constraints. Chinese inventories are near their lowest in a decade.
Rates move a positive
Mr Wendt said speculation that US interest rates would be heading lower was also a positive for silver, as a lower interest rate environment tended to support the prices of precious metals.
He also said Citigroup analysts were predicting possible further gains.
Silver could rise to US$62 an ounce in the coming three months ‘on the back of Fed cuts, robust investment demand, and physical deficit,’ Citigroup Inc. analysts including Max Layton wrote in a note.
Mr Wendt said global demand for silver, which was used in a wide variety of industrial processes, had outstripped output from mines for the past five years.
Not just valued as an investment asset, silver also has many useful real-world properties that make it a component in a range of products, such as circuit boards, solar panels and coatings for medical devices.
The post Silver price hits new record, firing up Aussie shares appeared first on The Motley Fool Australia.
Should you invest $1,000 in Andean Silver Ltd right now?
Before you buy Andean Silver Ltd shares, consider this:
Motley Fool investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Andean Silver Ltd wasn’t one of them.
The online investing service he’s run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.*
And right now, Scott thinks there are 5 stocks that may be better buys…
* Returns as of 18 November 2025
.custom-cta-button p {
margin-bottom: 0 !important;
}
More reading
- Why Andean Silver, Boss Energy, Chalice Mining, and Rio Tinto shares are falling today
- Up 118% in 2025, why is this All Ords ASX silver share crashing on Monday?
- Up 109% or more! These 4 ASX mining stocks are booming as the silver price hits all-time high
- Up 162% in 2025, why is this ASX All Ords silver share leaping higher again today?
- Why Domino’s, Greatland, NextDC, and Unico Silver shares are pushing higher today
Motley Fool contributor Cameron England has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
Leave a Reply