A rare and historic shift has taken place in the global commodity market. For the first time since 1980, the price of silver per ounce has climbed above the price of crude oil per barrel.
Recent market data shows silver trading at around 64 dollars per ounce, while WTI crude oil is hovering between 57 and 60 dollars per barrel. This unusual reversal has drawn strong attention from investors and market watchers around the world.
Silver has surged sharply this year, rising by more than 110 percent. This marks its strongest annual performance since 1979. In contrast, crude oil prices have fallen by around 20 percent, making this one of the weakest years for oil since the pandemic in 2020.
Experts say the main reason behind silver’s rise is growing industrial demand. Silver is widely used in solar panels, electronics, electric vehicles, and other green technologies. As countries push toward clean energy, demand for silver has increased rapidly. A weaker US dollar and limited supply have also supported higher prices.
On the other hand, crude oil prices are under pressure due to global oversupply, weak demand, and mixed production policies from OPEC. In mid 2022, crude oil was about 5.5 times more expensive than silver. That relationship has now completely reversed.
The impact is also visible in the Indian market, where silver prices have crossed INR 200,000 per kilogram, attracting strong interest from investors.
This shift reflects a broader global trend toward green energy and the weakening position of traditional energy sources. While silver may continue its upward run, analysts warn that market volatility remains high and investors should stay cautious.
