Silver Decoder
Silver is acting more like a monetary metal than an industrial metal in this window.
This page follows silver through the economy. Copper checks industrial demand, miners check who benefits, solar shares check who bears the input cost, and earlier surges show which relationships usually held or broke.
SILVER
MONETARYINDUSTRIAL
the market decides which face is showing
Ask this page.
Choose a useful question or type your own. The answer and chart use only the figures already checked for this page.
Choose a question to build a chart.
Current viewWaiting for a question
The chart will appear here.
What kind of silver move is this?
Copper checks the industrial story. Gold checks the money story. Miners test who benefits. Solar shares test whether a major silver-using industry is gaining with the metal or being squeezed by it.
Silver is acting more like a monetary metal than an industrial metal in this window. Silver miners moved -2.7 points versus the metal; solar shares moved -19.9 points versus it.
What happened when silver surged before?
Every non-overlapping five-year episode where silver rose at least 15% in 21 sessions is checked against copper, gold, miners, solar shares and the following month.
| Surge ended | Silver | Copper | Gold | Silver miners | Solar shares | Silver next 21 sessions |
|---|---|---|---|---|---|---|
| 17 Jun 2025 | +15.2% | +4.7% | +6.0% | +24.3% | -8.5% | +2.6% |
| 22 Sep 2025 | +15.7% | +3.1% | +12.3% | +27.7% | +10.8% | +9.4% |
| 28 Nov 2025 | +18.5% | +0.2% | +6.9% | +16.8% | +0.6% | +34.7% |
| 30 Dec 2025 | +34.7% | +9.2% | +2.8% | +11.3% | +1.3% | +9.4% |
| 03 Feb 2026 | +17.0% | +7.1% | +14.1% | +19.7% | +7.7% | -3.5% |
| 09 Mar 2026 | +17.3% | +1.9% | +6.9% | +11.4% | -3.1% | -13.8% |
| 12 May 2026 | +15.0% | +9.9% | -0.6% | +5.6% | +12.3% | -22.6% |
| 14 Aug 2026 | +16.1% | +5.1% | +10.0% | +24.5% | -4.1% | -1.6% |
Copper joined 14 of 15 past surges. Solar shares joined 8. Silver was higher one month later in 6; the middle next result was -2.9%.
Does the customer confirm the commodity?
Solar uses silver, but a silver surge can also raise manufacturing costs. This is why a solar-stock split can be information, not a failed relationship.
| Solar share | 21 sessions | 63 sessions | Versus silver | 50-day trend | Buying pressure |
|---|---|---|---|---|---|
| TAN | -9.5% | -24.6% | -9.4% | Below | -0.30 |
| FSLR | -11.9% | -24.0% | -11.8% | Below | -0.22 |
| ENPH | -12.0% | -33.7% | -11.9% | Below | -0.03 |
| CSIQ | -27.8% | -29.9% | -27.6% | Below | -0.15 |
| JKS | -38.7% | -42.0% | -38.6% | Below | -0.35 |
0 of 5 solar shares rose. The equal-share group moved -20.0% versus silver at -0.1%.
Do silver companies agree?
Metal prices help revenue, but costs, mines, debt and company news decide what shareholders keep.
| Share | 21 sessions | 63 sessions | Versus silver | 50-day trend | Buying pressure | Analyst view | Price-target gap |
|---|---|---|---|---|---|---|---|
| WPM | +2.6% | +23.4% | +2.7% | Above | +0.12 | StrongBuy | +7.5% |
| PAAS | -0.3% | +2.4% | -0.1% | Above | +0.09 | Buy | +31.1% |
| SIL | -0.7% | +13.9% | -0.6% | Above | -0.00 | Not available | Not available |
| AG | -4.8% | +10.3% | -4.7% | Above | -0.06 | StrongBuy | +21.0% |
| CDE | -5.6% | +12.8% | -5.5% | Above | -0.01 | StrongBuy | +5.9% |
| HL | -7.9% | +18.6% | -7.7% | Above | -0.05 | Buy | +13.1% |
Without WPM, the equal-share miner group moved -3.9% over 21 sessions. A real company move should survive that removal.