Goldman Sachs It is expected that, following a historic surge in silver prices in 2025, volatility will persist; clients averse to volatility are advised to exercise caution. Goldman Sachs Recent price volatility is attributed to Federal Reserve an influx of funds from private investors driven by accommodative monetary policies and diversification trends, but it is also noted that liquidity tightness in London has significantly amplified these fluctuations. Goldman Sachs stated that reduced inventories have created a supply crunch, with investor funds flooding into London vaults to absorb remaining silver, accelerating price increases; conversely, when the supply crunch eases, prices will plummet. Goldman Sachs still believes it is unlikely that the U.S. will impose tariffs on silver.