Key highlights:
- Silver has climbed from sixth to second place among global assets by market value in just three months.
- Retailers and mints are restricting silver sales as physical shortages spread.
- Industrial demand from clean energy and tech is reshaping silver’s role in the global economy.
Silver has made one of the most dramatic moves in global markets this year, jumping from sixth place to second among the world’s largest assets by market capitalization.
In October 2025, silver was valued at about $2.999 trillion, trading near $53.29 per ounce. By January 13, data from CompaniesMarketCap showed silver reaching roughly $4.776 trillion, with the silver price near $84.84 per ounce.
Top 10 largest assets in the world. Source: CompaniesMarketCap
Gold still holds the top position with a market value of about $31.917 trillion and the gold price $4,590 per ounce. But silver has now moved ahead of major tech companies, surpassing NVIDIA at $4.502 trillion and Alphabet at $4.016 trillion.
Shortages push demand higher
Soaring prices are forcing U.S. retailers to introduce unusual restrictions. Costco now limits customers to a maximum of 10 units of 10-ounce PAMP Lady of Liberty silver bars per 24-hour period. Similar limits apply to 1-ounce bars, which are also no longer refundable.
Social media users report even tighter rules in some stores, with limits of just one bar per customer. These steps are widely seen as signs of abnormal demand for physical silver.
Shortages have also affected government mints. The U.S. Mint delayed the release of its 2026 American Silver Eagle coin from January to February 26. The 1-ounce proof coin will be sold in limited quantities, and subscriptions are already sold out.
Traders report premiums near $82 per ounce for physical silver, well above lower exchange spot prices. Such gaps suggest rising stress in the physical supply chain, even though producers and regulators have not issued formal warnings.
Silver’s new role in the global economy
Silver’s rally is not just about investors, as the metal is becoming increasingly critical to modern industry.
Green energy uses silver on a massive scale. Solar panels, electric vehicles, and 5G networks now consume more silver each year than the entire global jewelry market.
History shows that big silver rallies often appear before major technological shifts. In the 1970s, electronics drove demand. In the 2000s, it was digital devices. Today, artificial intelligence and robotics may be the next major force, as silver is essential for high-precision electrical components. These factors have led to plenty of bullish silver forecasts for 2026, with $100 per ounce being a real possibility.
The key question now is whether mining supply can keep up. If production cannot adapt fast enough, the world may be heading toward its first true industrial metal crisis of the digital age.
Source: https://coincodex.com/article/80035/silver-overtakes-nvidia-to-become-the-second-largest-asset-by-market-cap/
