International financial analyst Tariq Al-Rifai talked with Proactive about the record-breaking silver price rally, which recently surged past USD 58 per ounce. Al-Rifai explained that while gold has traditionally captured attention, silver has been on a steady upward trajectory since 2019, driven primarily by industrial demand, particularly from the solar energy sector.
“The solar industry has become the number one industry demanding silver,” said Al-Rifai. This increased demand, especially with limited supply, is pushing prices higher and attracting more investor interest.
He noted that while there are no pure-play silver companies listed on the ASX, South32 remains the largest silver producer in Australia. Other notable ASX-listed developers include Silver Mines, which holds promising late-stage assets in Australia, Sun Silver focusing on fields in Nevada, and Unico Silver with interests in Peru.
Al-Rifai also commented on the gold-silver ratio, currently around 81, stating that “the price of silver still has room to go higher compared to gold.” He believes the current rally may continue into 2026, possibly extending to 2027, offering a favourable environment for both investors and silver exploration companies seeking funding.
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