Silver (XAG) is dominating precious metals markets with a stunning 16% gain since April, leaving Gold (XAU) behind with a 2% decline. This performance gap might be signaling the start of a major mining bull market.
Silver (XAG) Price Leaves Gold in the Dust
Since April 21st, 2025, silver has crushed it with a +16% surge, while gold slipped -2% during the same period. Current levels show silver at 116.2873 versus gold's 97.8128 - an 18 percentage point performance gap that's got traders buzzing.

This isn't just minor divergence. The market's clearly voting with its feet, and right now those feet are walking straight toward silver. Smart money is already positioning for what could be coming next.
Mining Sector Shows Bull Market Signs
According to a recent X post making rounds in trading circles, gold derivatives are outshining the physical metal while exploration companies have rocketed 30% since April. This pattern screams early-stage bull market.
When investors move up the risk curve, ditching physical metals for higher-beta plays in explorers, something big is usually brewing. Capital is flowing into silver and early-stage gold explorers, suggesting increased liquidity and higher valuations ahead.
The 16% silver gain combined with 30% explorer gains isn't happening by accident. Market participants are positioning for something bigger, and this looks like just the opening act of a much larger show.