Silver's recent performance has indeed been a bit crazy. According to trading data, last Monday morning silver surged approximately 5.5% in a straight line, reaching a historic high of $83 per ounce — a price that was unimaginable last year. However, the good times didn't last long, and it then experienced a sharp decline, nearly 10%, now stabilizing around $80 per ounce.

Looking at this year's performance, you can see how fierce silver has been. From the beginning of the year to now, silver has increased by over 170%, firmly outpacing other assets. A comparison makes it clear — during the same period, gold rose about 72%, the S&P 500 increased nearly 18%, and the Nasdaq just about 22%. Honestly, silver's performance this year is basically in a league of its own, leaving other assets in the dust.

There are several main drivers behind this wave of market movement. First, central banks around the world have been continuously accumulating precious metals, which many can understand the logic behind. Second, institutional funds have been flooding into silver-related ETFs, directly boosting market demand. The third key factor is the Federal Reserve's three consecutive rate cuts this year, lowering borrowing costs across the market. Since precious metals do not generate income themselves, a low-interest-rate environment is especially friendly — holding costs decrease, making them relatively more attractive.

Anyway, this surge in silver has transformed it from a niche asset at the beginning of the year into a market focus. How it will develop next remains to be seen.