Silver Retail Buying Keeps Supplies Tight as Rally Gathers Pace

From Chinese aunties queuing in Shenzhen markets to out-of-stock Turkish refineries and a Korea Mint offer that sold out within an hour, silver’s dizzying rally is leaving banks and refiners scrambling to meet unprecedented demand from retail investors.

After surging almost 150% last year, the white metal has taken it up a notch in 2026, jumping by around a third in a few weeks as the Trump administration ushers in a new age of imperialism, while renewing attacks on the Federal Reserve. China was an early epicenter of the consumer frenzy for silver coins and bars, but with prices setting records the craze is spreading.