Home Business NewsRetail silver rush accelerates as ‘devil’s metal’ tops $120

Retail silver rush accelerates as ‘devil’s metal’ tops $120

by Amy Johnson LLB Finance Reporter
30th Jan 26 8:34 am

With silver up 298% over the past year and trading near its all-time high of $120.37, public interest in the metal has continued to intensify.

Solomon Global, a leading supplier of certified gold and silver bars and coins, has seen an influx of first-time silver investors since September 2025 as well as existing clients broadening their precious metals exposure by adding silver.

The company reports a 158% increase in sales of CGT-free silver 1oz coins in just under four months and a 550% growth in demand for 1kg silver bars over the same period.

This surge in physical buying is mirrored by growing online interest. Google Trends data highlights that searches for “how to buy silver online” and “buy silver online” have risen 250% over the past three months, while searches for “price of silver” are up 200%.

The data further highlights “current silver to gold ratio” and “gold to silver ratio” as ‘breakout’ queries, indicating search interest growth of 5000% or more. The gold-silver ratio currently stands at around 45:1, its lowest level since September 2011.

Silver’s latest rally, like gold’s, is being fuelled by continued global instability, with factors such as unpredictable US policymaking, persistent inflation, geopolitical tensions, and economic uncertainty pushing investors towards historical ‘safe-haven assets.’ In addition, strong industrial demand – with green technologies and AI as major new drivers – and ongoing supply deficits are propelling the precious metal.

Silver, traditionally the preserve of retail investors and industry, has seen increased institutional demand, with notable central banks making sizeable purchases.

“With gold prices now beyond the reach of many private investors, we’re seeing clients turn to silver as a more accessible way to gain exposure to the precious metals rally; this trend began when silver crossed $40 in September,” said Paul Williams, managing director of Solomon Global.

“Silver is no stranger to volatility, but even by its own standards, the pace of the latest move, since breaking $100, has caught many by surprise. The fundamental drivers remain firmly in place – safe-haven and industrial demand, geopolitical uncertainty, and a structurally tight market – but I would be cautious about expecting sustained gains much beyond the $125-$140 range this year. Meanwhile, a $6,000 target for gold in H1 of 2026 is looking increasingly within reach.”

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