(Kitco News) – While a likely U.S. recession in Q2 would impact industrial demand for silver, most of the gray metal’s recent strengths are expected to carry over into the new year, and the price of silver is projected to outperform gold in 2025, according to analysts at Heraeus Precious Metals.
In their Precious Forecast 2025, the analysts said that if market conditions unfold as expected, they believe silver will outgain gold once again in 2025. “This year, the silver price has seen the largest percentage gains across the precious metals (+26.82% to the end of November),” they noted.
“The beginning of the next phase of the global interest rate cycle earlier in the year has helped both gold and silver. Meanwhile, relentless growth in solar photovoltaic demand and a strong rebound in implied demand from India have also supported the price on the physical side.”
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