Silver spent most of the last 15 years going nowhere, whilst gold has been steadily creeping up (though accelerating in the last 3 or 4 years).
If you look at historical prices, in 20 years gold went up around 9x in dollar terms whilst silver went up 11x, which is not that much of a difference, but if you look at the silver price in the beginning of 2025 it was only about 4x from the beginning of that 20 year range, so most of the growth has happened just in this one year to the point that the peak from 2011 was only surpassed in September 2025 whilst gold passed its 2011 peak in 2020.
All this to say that IMHO Silver price growth just seems to be much more concentrated in time than Gold’s, but in a longer timeframe it doesn’t really add to a much bigger price increase.
Silver spent most of the last 15 years going nowhere, whilst gold has been steadily creeping up (though accelerating in the last 3 or 4 years).
If you look at historical prices, in 20 years gold went up around 9x in dollar terms whilst silver went up 11x, which is not that much of a difference, but if you look at the silver price in the beginning of 2025 it was only about 4x from the beginning of that 20 year range, so most of the growth has happened just in this one year to the point that the peak from 2011 was only surpassed in September 2025 whilst gold passed its 2011 peak in 2020.
All this to say that IMHO Silver price growth just seems to be much more concentrated in time than Gold’s, but in a longer timeframe it doesn’t really add to a much bigger price increase.