ARCADIA SILVER REPORT: An Overview Of The Silver Market In Late 2025, And The Problems Posed By The Ongoing Deficits

I've mentioned in the past few months that I've been working on a silver report, with the goal of providing an overview of the market, what's led us here, what to expect going forward, and some of the important yet rarely addressed questions that have been left unanswered.

Fortunately, it's finally complete, and I hope you find it enjoyable and helpful.

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An Overview Of The Silver Market In Late 2025, And The Problems Posed By The Ongoing Deficits

It's a fascinating time in the silver market, and the following report lays out an overview of the current state of the market as of September 2025.

This report discusses the events that have brought us to this point, extensive sections on both the supply and demand dynamics that have led to silver deficits over the past few years, and perhaps most importantly, the different paths forward that are possible from here.

The report also addresses several of the key questions on the minds of silver investors that rarely get addressed, but are more important to consider than ever, including:

• The risks to the market posed by the ongoing deficits

• Why the deficits are more likely to continue, or even increase, rather than go away in the years ahead

• The reason why the challenges facing the silver mine supply still don't easily get resolved even at a $50 or $100 silver price

• Why silver has lagged gold over most of the current rally

• What happens to silver demand if there’s a recession

• How silver has actually performed over time relative to inflation, and whether
  silver has actually fulfilled its role as an inflation hedge

• Whether silver can be expected to serve as an inflation hedge in the years ahead

• Why the silver price declined during a decade of 0% rates and quantitative easing

• How to put the spikes to $50 in 1980 and 2011 into a more appropriate context

• And several of the other fascinating dynamics that have left the silver market on the verge of some potentially unusual and asymmetric outcomes in the years ahead

To read the full report, just click to download this file.