- Solve real problems with our hands-on interface
- Progress from basic puts and calls to advanced strategies
Interactive Options Course
Posted October 9, 2025 at 10:00 am
Silver prices broke past a historic ceiling on Thursday, climbing to $50 per ounce and smashing the previous record set in April 2011, as investors continue piling into precious metals on bets that Federal Reserve rate cuts will continue.
The grey metal is now up 73% year to date, on pace for its strongest annual performance since 2010 when it gained 83%. The only stronger year on record remains 1979, when silver surged 360%.
In comparison, gold, which also trades at record highs above $4,000 per ounce, has notched a 54% gain thus far this year. This puts gold on track for its best performance since 1979, when it rose 133%.
Thursday’s breakout marks silver’s eighth consecutive weekly gain — the strongest bullish streak since 2020 — suggesting a powerful momentum rally that has few immediate signs of fading.
David Morrison, senior analyst at Trade Nation, said silver is “at an extremely significant level,” noting that bulls easily cleared $40 and $45 resistance in September.
“Silver’s overall tone remains positive… price action suggests that buyers are still in control,” he said, even as momentum indicators signal overbought conditions.
Colin Fenton of 22V Research said macro factors have driven gold prices higher, including the ongoing U.S. government shutdown and the war in Ukraine. Yet with potential resolution ahead, Fenton said it’s not yet time to reduce positions.
“Given relative prices today, we think better value for incremental dollar allocation per unit risk is in silver,” he said.
“After nearly two years of advance, a reasonable question at this juncture is whether it’s time to pare or exit risk in gold and/or silver. Our high conviction answer is no, not yet,” Fenton added.
Otavio Costa, macro strategist at Crescat Capital, questioned how silver could still be considered undervalued relative to gold in the current environment.
“Gold is now above $4,000/oz, and who would’ve thought silver would remain this cheap relative to gold?” Costa said.
“Some say this time is different; others believe it’s only the beginning. I’m firmly in the latter camp.”
Costa’s view aligns with the broader belief that silver, despite its historic breakout, still lags gold in terms of relative performance and has more upside left as monetary and geopolitical pressures build.
That risk-reward profile has prompted many investors to rotate into silver miners, sending select stocks into parabolic territory.
These stocks have been supercharged by both the physical silver rally and investor demand for leverage to silver’s upside. While silver itself is up 73%, the most speculative miners have delivered 8x or more in returns.
5 Silver Miners Year-to-Date:
—
Originally Posted October 9, 2025 – Silver Hits Record $50, Marks Best Year Since 2010: 5 Miners To Watch
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Information posted on IBKR Campus that is provided by third-parties does NOT constitute a recommendation that you should contract for the services of that third party. Third-party participants who contribute to IBKR Campus are independent of Interactive Brokers and Interactive Brokers does not make any representations or warranties concerning the services offered, their past or future performance, or the accuracy of the information provided by the third party. Past performance is no guarantee of future results.
This material is from Benzinga and is being posted with its permission. The views expressed in this material are solely those of the author and/or Benzinga and Interactive Brokers is not endorsing or recommending any investment or trading discussed in the material. This material is not and should not be construed as an offer to buy or sell any security. It should not be construed as research or investment advice or a recommendation to buy, sell or hold any security or commodity. This material does not and is not intended to take into account the particular financial conditions, investment objectives or requirements of individual customers. Before acting on this material, you should consider whether it is suitable for your particular circumstances and, as necessary, seek professional advice.
Futures are not suitable for all investors. The amount you may lose may be greater than your initial investment. Before trading futures, please read the CFTC Risk Disclosure. A copy and additional information are available at ibkr.com.
U.S. Spot Gold trading through IB LLC accounts is only available to legal residents of the United States that do not reside in Arizona, Montana, New Hampshire, and Rhode Island.
Any discussion or mention of an ETF is not to be construed as recommendation, promotion or solicitation. All investors should review and consider associated investment risks, charges and expenses of the investment company or fund prior to investing. Before acting on this material, you should consider whether it is suitable for your particular circumstances and, as necessary, seek professional advice.
Join The Conversation
For specific platform feedback and suggestions, please submit it directly to our team using these instructions.
If you have an account-specific question or concern, please reach out to Client Services.
We encourage you to look through our FAQs before posting. Your question may already be covered!