Market Trends - Silver reached a 13-year high above $36 per ounce [1] - Platinum climbed to levels last seen in 2021 [1] - Investors seek alternatives to gold amid high prices and macroeconomic uncertainty, improving positive correlation between silver and platinum [2] Supply and Demand - Silver supply lagged demand by about 15% in 2024, with another shortfall expected this year [1] - Platinum faces its third consecutive year of supply deficit [2] - Platinum supply deficit is exacerbated by reducing mining output in South Africa and surging Chinese demand [2] Industrial Demand - Bullish momentum is primarily driven by robust industrial demand [1] - Silver is in high demand for the manufacturing of solar panels [1] - Platinum is in high demand for hybrid vehicle production [1]