Silver breaks through the $100 mark! Experts say that the upward trend may have just begun

The silver futures for delivery in March hit a high of $100.78 per ounce during trading, closing at $100.64, with a daily increase of 4.4%. The cumulative increase so far this month has exceeded 42%, and it is expected to achieve its best monthly performance since December 1979. The statement by Stefan Gleason, President and CEO of Money Metals Exchange, further ignited market enthusiasm. He pointed out that based on the gold silver ratio and mining stock index signals, this silver rally may have just begun, injecting strong confidence into the precious metals market.

The breakthrough of silver above the $100 mark this time is not accidental, but the result of multiple factors resonating. From a short-term performance perspective, silver futures prices are showing an accelerated upward trend, with a 42% increase this month far exceeding the performance of gold during the same period, demonstrating strong market explosive power. According to Dow Jones market data, this increase not only broke the monthly record in recent years, but is also just one step away from the historical best monthly performance in December 1979, reflecting that the pursuit of silver assets by funds has entered a white hot stage.

The continuous influx of funds provides core support for price breakthroughs. The holdings of the world's largest silver ETF continue to rise, currently exceeding 16000 tons. The increase in ETF funds confirms the market's recognition of the long-term value of silver. At the same time, the flow of cross market arbitrage funds has further exacerbated inventory shortages. The silver inventory in the London vault decreased significantly by nearly 10000 tons in 2022, and although some have since returned, the overall inventory is still at a historical low. The scarcity of deliverable spot goods has further pushed up futures prices, forming a positive cycle of "inventory shortage capital pursuit price increase".

Stefan Gleason's judgment on "the uptrend is just beginning" is based on dual signals from the gold silver ratio and mining stock index. As a key indicator for measuring the relative strength of gold and silver, the gold silver ratio has recently dropped to 50.57, setting a new low in 13 years and significantly halving from 105 at the beginning of 2025. This ratio change indicates that silver is at a historically low valuation relative to gold, and its previously undervalued value is rapidly recovering. Historical experience shows that a deep recovery in the gold silver ratio often accompanies a sustained upward trend in silver prices.

The synchronous strengthening of the mining stock index further confirms the positive trend of the silver market. As a leading indicator of silver prices, silver mining stocks have significantly outperformed the market in recent times, reflecting the market's optimistic judgment on the profitability expectations of the silver industry chain. Stefan Gleason emphasized that the strong performance of mining stocks is not only the result of price increases, but also indicates the confidence of the industry in the supply and demand pattern of silver, providing fundamental support for the subsequent upward trend of silver prices, rather than simply driven by speculative speculation.