Silver climbed above $81 Tuesday, rising over 6% on the day and extending its 2026 gains to 14% as geopolitical tensions following the US capture of Venezuelan President Nicolás Maduro fueled safe-haven demand.

In 2025, silver gained 145%, briefly reaching an all-time high near $84 before retreating to $71 as the year ended. But the rally resumed as the new year began, with geopolitical tension and macro dynamics lifting hard assets.

The latest surge has brought silver’s market cap to roughly $4.5 trillion, putting it just below Nvidia, which currently sits at $4.6 trillion, according to Companies Market Cap data.

Silver may soon overtake Nvidia to become the second-largest global asset, behind only gold, as investors increasingly turn to hard assets for protection and purchasing power preservation.