[Music] The silver price has been on the move in 2025, rising to highs not seen in 14 years and even breaking the 39 per ounce level for brief periods of time. The white metal typically lags behind gold in a bull market before outperforming. So, it's no surprise that it's taken time for it to start catching up. However, silver is also known for being volatile and after years of waiting, many investors are still feeling cautious. They're wondering if silver's rise is really going to continue. I've


spoken recently with a variety of sector participants to try to get to the bottom of this question. Let's take a look at what they had to say about the outlook for silver. Some experts like precious metals analyst Ted Butler are very optimistic about silver's prospects. In his view, this really is it for silver. >> So many times the silver prices tried to break out and so many people got optimistic. So many people believe this was the moment and I'm going to put my neck on the line and say this is the


moment. I'm not saying it's going to be at $50 by the end of this year, but it's structurally making its way towards those higher prices. And even at the current gold price, even if gold were to fall to 3,000, you know, silver is still historically undervalued relative to gold and the catalysts in place are there to drive it forward. Ted identified silver's ongoing deficit as a reason he's bullish and that factor was also brought up by Manny Alkafagi of First Majestic Silver. Here's what he


said. >> There's been a structural deficit for 5 years now straight and um you know supply is just not keeping up with demand. Uh demand is continuing to rise. Um every year the deficit is increasing but supply is is tapped out. you know, the the miners collectively peaked production in 2016. They produce about 900 million ounces. Yet, you know, this year we're expected to be producing about 830. So, it's down and there's really no material new supply coming to the market. Um, I think new institutions


now are starting to pay attention to this. Um, we're seeing more people talking about this, this deficit. >> Others are bullish long-term, but aren't sure silver is ready to break higher. Adrien Day of Adrien Day Asset Management said while the precious metal seems to have found a new floor at 30 or even 33, he's not expecting a drastic push higher in the near term. This is how he explained it. >> But I'm not sure we're going to see silver shoot to $50 or $100, you know,


anytime soon on this move. Um I've had people ask me uh on silver, is this it? I'm not sure what it is, but no, I don't think this is it. Um the thing about silver you've got obviously we know this you got the industrial industrial demand and then on the supply side you've got the fact that you've got two things that are grossly different or vastly different from from gold. First of all you've got most silver supply is byproduct. So about 75% of silver supply is byproduct and it's byproduct not of


gold but it's byproduct of zinc and lead. And so I've said this before, the lead miner in Bolivia does not build a new lead mine with 10% silver byproduct just because the price of silver went up, right? Um and so silver de silver supply does not respond well to to changes in the price of silver, which is one of the reasons that silver the silver price is so volatile. That works on the downside as well as the upside. you don't you don't close your zinc mine because the price of silver went down.


Um the second major difference is there are no stockpiles of silver. No no meaningful stockpiles of silver. And so if you get a a big run suddenly there's no big supply to suddenly come on and and and take that away. And that's another reason why silver moves can be so dramatic. Adrien went on to say that silver setup is strong, but the industry needs retail investors to start buying in droves, and at this time that's simply not happening. Rick Rule of Rule Investment Media made a similar


comment, also highlighting how dramatically silver can move when it does get going. Here's what Rick said. >> It it wouldn't surprise me to say to see silver take two years to break out relative to gold. It also wouldn't surprise me to see it happen this fall. All I know is that silver doesn't move until a generalist investor comes to the precious metal space. The generalist investor comes to this precious metal space because of momentum established by gold. When that happens, I don't even


know why. I suspect it's because of the lower unit cost to buy silver. But when it happens, it's truly truly truly dramatic. I've seen it happen three times before in my life. And Charlotte, it's been pleasant. Um, if I have to wait 2 years for that circumstance, I've been on Earth for 72 years. I'm okay with 2 years. Uh, but those moves are really, really, really dramatic. Uh, and silver has substantially lagged gold in terms of this move, as it always does in a bull market.


>> You'll have to decide for yourself what's coming for silver. But if you do decide to jump in or add to your existing position, what's the best way to do so? The broad consensus is that you need to get physical metal first before pursuing other avenues like exchange traded funds, futures, or silver stocks. Here's Rich Checkin of Asset Strategies International explaining the importance of holding physical silver. >> I still think um you know when it comes to gold and silver, you start taking


physical delivery. Uh if it's going to be a liquid asset for a financial crisis that you could ever have um in a store purchasing power, you have to be able to put your hands on it immediately, which means you take delivery. Um, so I would buy coins, bars, rounds, whatever it was that had the lowest premium. The goal here is to take um as few dollars as necessary to meet your allocation for gold and silver. Uh, and that means the lowest premiums and we can help you do that. It changes from day to day.


>> I'd love to know where you think the price is going and how you're approaching silver from an investment perspective. So, leave a comment below with your thoughts. You can also check out the video description for the links to the full interviews with all the experts mentioned. We'll see you next time. Thank you for watching. If you like this video, make sure you hit the like button and subscribe to our channel. We'd also love to hear your thoughts, so leave us a comment below.


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