Silver Prices Rebound Amid Surge in Demand from AI, Data Centers
Silver prices have been trending upward since mid-July, when they reached a low of $55.5 per ounce, their lowest level since early December.
The recent gains coincide with a broader rally in precious metals, including gold, which rose from around $4,000/oz in late July to more than $4,600/oz in late August.
Rising demand from sectors beyond photovoltaics is contributing to silver consumption, particularly from artificial intelligence (AI), data centers, electric vehicles, and broader electrification trends. According to the Silver Institute's president and CEO, Michael DiRienzo, 'AI, data centers, electric vehicles and the electrification of everything are supporting demand.'
The industry is heading toward its sixth consecutive annual structural deficit, with a shortfall expected to reach nearly 50 million oz this year.