Why has the market enthusiasm shifted from tech stocks to precious metals behind the crazy surge in silver?

Silver has suddenly transformed from a niche commodity last year into the hottest trading target in the market. On Monday, the daily trading volume of the iShares Silver ETF (SLV) approached $40 billion, a figure that not only far exceeds Nvidia’s $23 billion and Tesla’s $22 billion but also reflects a dramatic shift in market enthusiasm. From the surge in trading volume to the skyrocketing prices, silver is demonstrating an extreme market phenomenon.

Crazy Jump in Trading Volume

The most direct change comes from SLV’s trading data. Just a few months ago, this ETF’s average daily trading volume was only $2 billion, which rose to $10 billion in late December last year, and after entering January 2026, it soared to nearly $40 billion.

How exaggerated is this growth rate? Comparing it to the performance of tech stocks makes it clear. Even Nvidia, the most active tech stock, had a trading volume of only $23 billion on Monday, while the silver ETF completely outpaced it. Tesla’s $22 billion trading volume also pales in comparison to SLV.

Extreme Surge in Silver Prices

The fundamental reason behind the surge in trading volume is the crazy rise in silver prices. According to the latest news, silver has already doubled in value in 2025. As we entered 2026, this upward momentum shows no signs of weakening—in fact, it continues to accelerate.

Price Increase Timeline

• Full year 2025: cumulative increase of over 100%
• January 2026 (up to the 27th): nearly 60% increase
• Historical significance: expected to set the largest single-month increase since 1979

In other words, silver rose nearly 60% in just one month. Such speed, even in commodity markets, is considered extreme. If this rally can be maintained until the end of the month, it will set a nearly 50-year record for the single-month increase.

Reflections Behind the Phenomenon

This crazy rally in silver reflects several noteworthy phenomena. First, market funds are searching for new hotspots. In the context of already substantial gains in tech stocks, traditional safe-haven assets like precious metals have suddenly attracted a lot of attention. Second, the surge in trading volume indicates that this is not just a few investors’ actions but has formed some degree of market consensus.

When a single asset’s daily trading volume can surpass that of tech giants like Nvidia, it itself indicates a shift in market sentiment. What is driving this change? Is it macroeconomic factors, or purely technical breakthroughs? Further observation is needed.

Summary

The transformation of silver from a niche commodity to a market focus speaks most convincingly through data. Nearly $40 billion in single-day trading volume, close to 60% monthly increase, and trading activity that outpaces tech stocks—all point to the same phenomenon: market enthusiasm is shifting. Is this a short-term speculative craze or a signal of long-term asset reallocation? The subsequent trend will provide the answer. Investors should closely monitor whether silver can sustain this extreme market condition and whether this heat will spread to other precious metals.