The iShares Silver Trust (SLV) surged 5.06% during the night session, marking a significant rebound in the silver-backed ETF's price.
The movement follows reports of Turkey's silver imports hitting a record high in January 2026, reaching the highest monthly level since records began in March 1999. Analysts attribute this surge to Turkey's restrictions on gold imports, which has diverted precious metal investment demand toward the more affordable silver. Additionally, persistently high international gold prices have made silver an attractive alternative for cost-conscious investors.
Fundamentally, the global silver market faces a pronounced supply-demand imbalance. Demand for physical silver delivery has risen notably, at times reaching several times available inventory. Meanwhile, global mining output is trending downward while industrial demand from sectors like photovoltaics and electronic components continues to grow, further widening the supply gap and supporting silver prices.