Military demand for silver is increasingly recognized as a major, yet opaque, factor in the market. Government agencies, especially in the United States, have not reported silver inventories since the mid-1990s, and experts suggest that military usage could be up to 15 times greater than any other industry, or even surpass industrial applications like solar panels and electric vehicles. This “hidden” demand is driven by silver’s critical role in advanced defense systems, including drones, autonomous weapons, satellites, radar, nuclear weapons especially where the cooling rods are all silver and other sensitive technologies. With global military spending rising and geopolitical tensions escalating, this demand is likely to grow, further tightening the silver market.
