Silver price hits record high at $81 per ounce…surpasses NVIDIA to become the 2nd-largest asset

As silver prices again reached record highs, it also overtook NVIDIA in asset value terms to settle as the second-largest asset.

On the 29th (local time), according to Kobeisi Letter citing market data, silver prices surpassed $81 per ounce, up 182% year-to-date. As gold prices repeatedly hit record highs, silver has also joined the precious metals rally, accelerating its rise.

It also reached a major milestone in asset value terms. In global markets, silver's total market capitalization surpassed $4.65 trillion, overtaking NVIDIA (NVDA) to become the world's second-most valuable asset.

Markets point to inflation-hedge demand, a weak dollar, and geopolitical uncertainty as factors driving broad strength in precious metals. Silver, in particular, is an asset with both industrial and investment demand, and tends to be more volatile than gold.

Meanwhile, Bitcoin has shown a clear divergence from commodity price trends over the same period. While gold and silver have strengthened reflecting declining currency values and expectations of increased liquidity, Bitcoin has failed to join the rally due to macroeconomic uncertainty and reduced leverage. Some observers say that only when this precious metals rally enters a cooling phase will funds move into Bitcoin.