Source: BlockMedia Original Title: Gold, Silver, Copper Hit Highest Prices in 45 Years—Will the Rally Continue? Original Link:

Gold, Silver, and Copper Hit Highest Prices in 45 Years—Will the Rally Continue?

Gold, silver, and copper prices have all reached record highs in 2025, marking an unprecedented surge in the global commodities market. This is the first time in 45 years, since 1980, that all three metals have hit all-time highs in the same year.

According to Dow Jones Market Data, silver futures posted a new all-time high at $59.14 per ounce, surpassing the previous peak in just a matter of days. Copper reached a yearly high of $5.8195 per pound in July, and gold hit $4,359.40 per ounce in October.

Analysts point to a combination of macroeconomic factors similar to the past, as well as structural changes such as increased industrial demand, supply constraints, and expanded gold purchases by central banks, as the driving forces behind this rally.

Inflation, Rate Cuts, and Weak Dollar Support the Rise

Market experts believe the current surge in metals goes beyond a simple preference for safe-haven assets. Nick Colley, analyst at Soloman Global, said, “Persistent inflation concerns, the U.S. Federal Reserve’s rate-cutting stance, a weaker dollar, and central banks’ gold purchases are strongly supporting metal prices. These conditions are likely to persist for some time.”

The ICE Dollar Index, which tracks the value of the U.S. dollar, has dropped more than 8% this year. This is seen as creating a favorable environment for commodity price increases.

Silver and Copper: Key to Future Industries, but Supply Stagnates

Industrial metals like silver and copper are gaining new momentum on the demand side as expectations for growth in sectors such as electric vehicles and solar power rise. Axel Merk, CEO of Merk Investments, noted, “Silver and copper are becoming increasingly important in the future economy, but U.S. production is limited and supply expansion remains sluggish despite political support.”

While the Trump administration designated silver and copper as strategic metals and streamlined federal land development permits, actual project progress has been slow. Shree Kargutkar, portfolio manager at Sprott Asset Management, explained, “Investment in mineral exploration and development has been lacking over the past decade, and regulations are also hampering supply expansion. As a result, we are seeing higher metal prices.”

A Changed Landscape—Supply Shortages Increase the Likelihood of Continued Rally

Experts emphasize that while the current metals rally shares some similarities with the 1980s, it also reflects more structural shifts. Back then, speculative demand was the main driver for silver, but today, real-world demand and supply imbalances are the primary factors.

Merk added, “Today, not only the U.S. but countries around the world are moving to strengthen resource-based industries. At the same time, de-globalization is making supply chains less efficient and pushing up production costs. This structure could push metal prices even higher.”

Experts believe the current metals market could be signaling the dawn of an era of sustained high prices. If supply-demand imbalances persist through the industry’s transformation, record-setting trends for major metals may continue.