Silver prices in Canada soared past $50 an ounce on June 9, marking the first time the precious metal has reached this milestone in Canadian dollar terms.
According to market charts, silver closed at $50.344 CAD per ounce that day, driven by strong investor demand amid ongoing economic uncertainties.
This record is part of a year marked by steady gains in silver prices. The average price of silver in 2025 was $45.726 per ounce. The highest silver price in 2025 was $50.344 on June 9, while the lowest was $41.643 on Jan. 1. Overall, the price of silver in Canadian dollars rose 20.06 per cent throughout the year.
“This surge is unprecedented in Canada and underscores silver’s enduring role as a safe-haven asset,” said an analyst at Canadian Coin News. Previously, Canadian silver prices had peaked around $48 in 2011, making this year’s high a historic record.
As of 11 a.m. today, silver was trading at about $49.38 per ounce.
Gold prices in Canada are also climbing this week. As of June 12, 24-karat gold is trading at $149.75 per gram, or about $4,612 per ounce. That marks a gain of roughly 0.6 per cent from the previous week. Other grades also saw increases, with 22-karat gold at $142.00 per gram and 18-karat at $116.20.
Analysts point to global inflation concerns, geopolitical instability and stable currency exchange rates as factors driving investor interest in both gold and silver. With the Canadian dollar holding steady around 1.37 per U.S. dollar, domestic precious metals prices remain strong.
The parallel rise in gold and silver highlights a continued trend toward safe-haven assets in uncertain times.