Silver and Copper Soar, Outpacing US Stocks in 2025 Gains

Silver and Copper Lead Commodity Gains in 2025, Outperforming Major U.S. Stock Indices with Forecasted Copper Deficit Supporting Future Price Growth

  • Silver and copper are among the top-performing commodities in 2025, delivering over 25% returns year-to-date.
  • These commodities have outpaced major U.S. stock indices like the Dow Jones, S&P 500, and Nasdaq.
  • Silver prices have increased by approximately 90%, rising from about $29.50 to nearly $57 per ounce.
  • Copper prices have surged to above $11,000 per ton, reflecting a year-to-date rise of around 27% due to strong industrial demand.
  • Morgan Stanley forecasts a copper deficit in the coming two decades, indicating potential sustained high demand and limited supply.

In 2025, silver and copper have shown outstanding performance in the commodity market, registering significant gains compared to major U.S. stock indices. The Dow Jones Industrial Average has increased nearly 13% year-to-date, while the S&P 500 and Nasdaq Composite climbed approximately 17% and 22%, respectively, but these figures lag behind the returns of silver and copper.

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Silver has outperformed Gold by a wide margin this year. The XAG/USD index, which tracks silver prices, reveals a 90% increase from the start of the year. Silver began 2025 at $29.50 per ounce and is currently trading close to $57. This growth means a $1,000 investment in silver at the beginning of the year would now be worth about $1,900. In contrast, gold’s gains, monitored via the XAU/USD index, amount to roughly 62% year-to-date.

Copper prices have also reached new highs, surpassing the $11,000 per ton mark for the first time in 2025, with a peak price near $11,067. Starting the year at about $8,691 per ton, copper has risen close to 27%. This increase aligns with copper’s extensive industrial uses, including applications in electrical wiring, circuits, electric vehicles, wind turbines, and motors, all of which are critical to modern technology.

According to Morgan Stanley, the global copper market is expected to face a deficit over the next two decades. This potential imbalance between supply and demand suggests that copper prices could continue to rise. Together with silver and gold, these metals position the commodity market for significant growth opportunities in the coming years.

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