According to market data tracker Companies Market Cap, silver's total market capitalization is nearly 5,000 billion USD. This marks a record high in silver's history, spanning thousands of years. As a result, the precious metal has become the world's second most valuable asset, surpassed only by gold. Silver has surpassed the market capitalization of numerous tech giants, including Nvidia, Alphabet (Google's parent company), Apple, Microsoft, and Amazon. The market capitalization of silver is currently 2.6 times larger than Bitcoin, the world's leading cryptocurrency.
Silver's rapid ascent among the largest global assets has been notable. In just about three months, the precious metal improved its position by 4 ranks. In 10/2025, silver was ranked 6th among assets with the largest global market capitalization.
At the beginning of 2025, spot silver traded around 29.5 USD per ounce. The precious metal entered a price appreciation cycle from 9/2025, surpassing 70 USD by mid-12 of the same year. Silver closed the year above 71 USD, nearly 2.5 times higher than its value at the start of the year. Silver's price surge has continued since the beginning of the year. On the morning of 14/1, spot silver approached 90 USD per ounce, having accumulated over 26% in just two weeks. This also marks the highest price range in history, nearing a significant psychological threshold.
Experts believe silver's price momentum is unlikely to slow down soon, as the market is reacting to various factors, from macroeconomic news to geopolitical tensions. Investors are seeking safe-haven assets due to instability after US President Donald Trump's administration launched a criminal investigation into Federal Reserve (Fed) Chairman Jerome Powell. Although under investigation for a Fed headquarters renovation project, Chairman Jerome Powell believes this is merely a "pretext" because he did not aggressively cut interest rates.
Domestically, Phu Quy Company listed silver bar prices at 3.38 - 3.48 million VND per tael, marking an increase of nearly 5% compared to yesterday's close. Sacombank - SBJ traded this commodity around 3.38 - 3.46 million VND. Since the beginning of the year, silver bar prices have increased by about 26%.
Previously, Kitco's annual survey indicated that most individual investors forecast silver prices to continue rising in 2026. 212 individual investors (57%) expect silver to reach over 100 USD per ounce next year. Many leading analysts also anticipate higher prices, though some warn of early corrections and the risk of a "blow-off" top (signaling an end and a reversal to lower prices due to profit-taking pressure, wiping out value).
Global asset manager Sprott believes this year's silver supply issues remain unresolved, while strong investment demand exacerbates the physical shortage. This sets the stage for a strong rally in 2026. Sprott also noted that Western ETF inflows have absorbed over 100 million ounces of silver since the beginning of the year, amid tight physical supply. This expert is optimistic about silver in the medium term, despite prices being at historical highs. According to technical analysis, the next targets mentioned are 60, 63 USD, and even 100-200 USD in the coming quarters.
Tieu Gu
