Spot silver has surged to around $34.10 per ounce in 2025, reflecting a 14% year-to-date increase, driven by geopolitical tensions, industrial demand, and a strong correlation with gold's record highs. Support levels at $32.50 and $31.20 may offer buying opportunities, while a break above $35.40 could target the $38-40 range by mid-2025. Investors are increasingly attracted to silver as a hedge against inflation and currency depreciation, bolstered by its dual role as a precious and industrial metal.