Silver’s record break above $60 shows how central the metal has become to the AI build-out

Silver blew past $60 per troy ounce for the first time on Tuesday, extending its blistering rally as traders race into a metal increasingly linked to the build-out of AI infrastructure.

The milestone caps a stunning run in 2025: silver has more than doubled this year, far outpacing gold’s roughly 60% gain and leaving many traditional commodity forecasts in the dust.

While expectations of further Federal Reserve easing have helped fuel the move, surging industrial demand and persistent supply tightness are also powering silver’s fierce price gains.

Veteran Wall Street strategist Ed Yardeni wrote on Tuesday that silver’s explosive rally can’t be understood without acknowledging its growing importance to the AI economy.

As AI data-center construction accelerates and chip demand rises, he argues the metal has effectively become “another AI play.”

Industry association The Silver Institute and Oxford Economics reinforced that view in a report released on Tuesday, saying AI’s rapid expansion is helping drive growing demand for silver across digital economy applications.

“As digitalisation and AI adoption accelerate, so too does the demand for critical materials involved in their applications — silver a critical one among them,” they wrote.