Silver has entered September 2025 with a rare sense of momentum. Prices have pushed through the long-watched forty-dollar threshold, reaching $40.57 per ounce, a level absent from markets for fourteen years. The move is not just a headline figure, it signals a shift in perception that has investors taking notice of both its scarcity and its renewed industrial relevance.
What sets this rally apart is not simply the percentage rise, impressive though it has been at forty-five percent year to date, but the unusual alignment of conditions supporting it. For the first time in more than a decade, silver is pressing against historic resistance while premiums on physical products remain subdued. That tension between soaring spot prices and low transaction costs has created a fleeting entry point, with secondary supply from profit-takers easing pressure on the retail market even as investment demand intensifies.
Macroeconomic currents have added to the momentum. Anticipation of interest rate cuts in the United States has reignited demand for non-yielding stores of value, weakening the dollar and pushing capital into precious metals. Inflation has proven stubborn, still elevated despite years of policy tightening, and this persistence has underscored silver’s defensive role. Legal challenges to tariff regimes have further unsettled markets, undermining confidence in protectionist frameworks and drawing capital toward assets insulated from political disputes. In combination, these elements have created a backdrop where the metal’s appeal extends beyond its traditional niche.
Great Western Mining Corporation Plc (LON:GWMO) is a mineral exploration and development company, incorporated in Ireland with operations in the USA.
