Silver: 'Poor Man's Gold' No More? - iShares Silver Trust (ARCA:SLV)

Core Insights - The narrative of silver being a secondary asset to gold has collapsed, with silver reaching a significant price point of over $100 for a one-ounce American Silver Eagle [1] Group 1: Silver Market Performance - Silver has surged nearly 200% over the past 12 months, rising from approximately $30 to over $88 per ounce [2] - The iShares Silver Trust (NYSE:SLV) has gained 43% in the last month, while silver mining companies like First Majestic Silver Corp. (NYSE:AG) and Pan American Silver Corp. (NYSE:PAAS) have also seen significant price increases [2] Group 2: Retail Investor Influence - The "silver squeeze" movement, driven by retail investors on platforms like X and Reddit, has successfully drained retail inventories, leading to increased demand for physical silver [3] - This current iteration of the silver squeeze is characterized by substantial physical drawdowns, unlike the previous attempt in 2021 [3] Group 3: Industrial Demand and Supply Constraints - Silver's role in technology, particularly in AI and solar sectors, is a major driver of its price rally, as it is essential for conductivity in high-tech applications [4][5] - The world is facing a structural supply deficit for silver, exacerbated by new export restrictions from China, which could lead to a widening shortage of physical silver [4]