Silver prices plunged to a record low of $48.28 per ounce on October 22, 2025, after recent highs were reached due to supply shortages and surging industrial demand. This decline highlights the volatility inherent in market imbalances driven by global economic policies and risk sentiment towards precious metals. The Silver Institute confirmed that the silver market is projected to remain in a persistent deficit for the fifth consecutive year in 2025, contributing to significant price fluctuations. Key figures like U.S. Treasury Secretary Scott Bessent and China’s Vice Premier He Lifeng have played a role in shaping global markets, while their discussions on key economic issues have further impacted silver prices.