Retail Traders Flood Silver ETFs as Prices Hit Record Highs
Retail investors have poured over $920 million into silver ETFs in just 30 days, marking an unprecedented surge in demand. The iShares Silver Trust (SLV) has now seen 169 consecutive sessions of inflows, with Wednesday recording its second-highest day of net buying ever. Ashwin Bhakre of VandaTrack described the trend as "unprecedented," noting silver's momentum now surpasses both gold and cryptocurrencies combined.
Silver prices skyrocketed more than 20% in four days, reaching a record $94 per ounce before a 7.3% pullback as traders took profits. The rally coincided with speculation over potential U.S. tariffs on critical minerals, including silver and platinum. President TRUMP ultimately opted against sweeping tariffs, instead favoring bilateral negotiations and potential price floors—a decision that followed months of security reviews on mineral imports.
Supply chain constraints exacerbated the rally, with U.S. warehouses stockpiling silver in anticipation of tariffs. This inventory buildup triggered a massive short squeeze in 2025 that continues to distort supplies in 2026. Last year, silver outperformed gold with a 150% price surge as investors rotated out of overpriced gold and into the WHITE metal. Industrial demand from solar panel manufacturers and frenzied trading in China further fueled the ascent.
