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Silver market capitalization surpasses Google to rank as the fourth largest asset globally, with industrial demand as the core driving force
Silver reaches a historic milestone. On December 17, 2025, the silver price broke through $66 per ounce, with an intraday high of $66.52, and the global market capitalization rose to approximately $3.7 trillion, officially surpassing Google's parent company Alphabet to become the fourth largest asset worldwide. Just prior to that, on December 11, silver had just overtaken Microsoft, crossing multiple tech giants within a few days, highlighting a significant shift in its position in global asset allocation.
Since the beginning of this year, silver prices have increased by approximately 127%, not only demonstrating its inflation hedge properties but also reflecting a structural surge in modern industrial demand for silver. On a macro level, the divergence between US employment and inflation data, along with market expectations that the Federal Reserve will keep interest rates unchanged, has driven capital flows into precious metals and other alternative assets; on a fundamental level, industrial demand has become the core driving force behind silver's rise.
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