MOSCOW, June 10. /TASS/. The growth of silver prices is backed by investment interest and industrial demand, with the cost of silver having added 23% since the beginning of the year. That said, the ratio of gold and silver prices has been staying at a level pointing to the fact that silver remains an undervalued metal so far, Gazprombank’s Center for Economic Forecasting said on its Telegram channel.
The silver price surpassed the $35 per Troy ounce mark in early June for the first time in 13 years, while the growth of the price has reached 23% year-to-date, experts said. "It is backed not only by investment interest, but also by growth of industrial demand, especially on part of the production of solar panels, electronics, and catalysts for cars. The global silver market has remained in deficit for the fifth year in a row due to slow production growth," they noted.
Meanwhile, the ratio of gold and silver prices has remained at the level of 90-100 (the cost of an ounce of silver is about 90 times lower than the cost of gold - TASS) in 2025 with an average historical norm of 50-60. "This means that silver remains an undervalued metal so far, especially amid strong growth of gold prices," Gazprombank’s Center for Economic Forecasting said.
The price of gold added almost one third in five months of 2025, analysts added.