Recently, there has been an interesting phenomenon in market performance — the assets that are truly soaring are not the ones everyone is paying attention to.

Why is silver so fierce?

As of mid-December, silver prices hit a historic high of $64.28 per ounce. Since the beginning of the year, the increase has exceeded 110%. This figure is quite shocking.

In comparison, how has gold performed? Not bad either, with a rise of about 60%, and the price has stabilized above the $4000 mark. In the long history, this has already been a quite good market trend. But compared to silver, gold seems rather lukewarm.

Looking at Bitcoin. In October, this crypto asset reached a record high of $126,272, and the market was very crazy at that time. But after entering Q4, a significant correction occurred. By mid-December, the year-to-date performance turned negative, with a decrease of about 3%. This is the first annual loss for Bitcoin since 2022.

Why can silver perform so strongly? The market explanations seem quite plausible — rising expectations of Federal Reserve rate cuts, influx of safe-haven funds, and renewed inflation concerns. These factors indeed drove silver upward.

But the story is not over. Changes in industrial demand are also gaining strength. The explosive growth in photovoltaic panel installations, the skyrocketing sales of new energy vehicles, and the accelerated construction of AI infrastructure — these industrial revolutions are genuinely increasing the demand for industrial precious metals like silver. And this aspect is often overlooked by investors solely focused on asset allocation.