Silver miners gain in 2025 driven by metal's historic rally

Silver miners are set to end the year on a high note, tracking a historic rally in spot prices which have more than doubled in 2025

Silver has gained over 145% year-to-date, outpacing gold, and poised for its best year ever, supported by its designation as a critical U.S. mineral, supply constraints, low inventories and rising industrial and investment demand

Spot silver XAG=, however, was down 5.6% at $72.20 per ounce on Wednesday due to a stronger U.S. dollar and as investors booked profits

Hecla Mining HL.N posted the strongest gains among silver miners, advancing ~297% YTD

Canadian miners Endeavour Silver EXK.N EDR.TO rose ~168 and Silvercorp Metals SVM.TO, SVM.N advanced 172%, while US stock Coeur Mining CDE.N climbed 216.2%

Abrdn Physical Silver Shares ETF SIVR.P has surged 162.6%, while iShares Silver Trust ETF SLV.P gained 162%