Silver price forecast May 2025 may see upward catalysts from ongoing geopolitical tensions. Such events often trigger increased safe-haven buying across both gold and silver markets. He noted that its valuation is primarily sentiment-driven, demand and prices tend to surge during periods of uncertainty, only to ease once investor confidence stabilizes. "I'm guessing the mining sector produced something in the order of 800, maybe 825 million ounces in 2022," Neumeyer said when giving a Q4 2022 overview for his company. "Consumption numbers look like they're somewhere between 1.2 and 1.4 billion ounces. That's due to all the great technologies, all the newfangled gadgets that we're consuming. Electric vehicles, solar panels, windmills, you name it. All these technologies require silver ... that's a pretty big (supply) deficit." Analysts project silver price forecast May 2025 at a range of $28.20–$30.50, assuming a mild correction in equities prompts portfolio rebalancing toward commodities.