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Silver steps out of gold’s shadow as Southeast Asian investors chase record prices
Soaring prices, tight supply and geopolitical uncertainty are driving a regional rush into the once-overlooked precious metal
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As silver prices surged past S$100 (US$78) an ounce in recent weeks, Singaporean Faris Ghani saw a long-running bet finally begin to pay off.
The 35-year-old relocation consultant has been quietly accumulating the metal since he was 21, betting that silver – long overshadowed by gold – would one day have its moment.
That moment appears to have arrived. On Monday, spot silver traded near record highs of about US$94 an ounce, more than tripling from around US$30 an ounce a year earlier.
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The surge has been fuelled by a broader flight into safe-haven assets amid heightened geopolitical and economic uncertainty, most recently stoked by growing fears of trade tensions between the United States and Europe after US President Donald Trump threatened tariffs on European countries that opposed his bid to buy Greenland, unsettling wider markets.
Faris, who says he began buying silver in 2012, now holds more than 100 ounces worth over S$10,000 at Monday’s prices. He added to his holdings late last year as demand for precious metals surged.
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