With November now well and truly underway, it's a good time to stop and look back at the latest developments in the precious metals market.
Whilst it has been gold that has been on everybody's lips (and increasingly homes) in 2025, its paler cousin has performed no less lucrative. In fact, rising from just under US$30 an ounce at the start of the year to the US$48 or so it is going for today (up 60%), silver has done even better than gold has (54%).
And that's not even including the astonishing high that silver clocked last month. The precious metal went above US$55 an ounce in mid-October, so has certainly pulled back somewhat.
But, with a pullback of this nature, many investors might be thinking that it could be time to 'buy the dip'. And instead of owning physical silver bullion, many investors prefer to invest in ASX silver shares.
So if this is indeed your preference, let's talk about which ASX silver shares are your best choices.
3 ASX silver shares for buy-the-dip investors
First up, investors can always go with a silver-specific exchange-traded fund (ETF). Your only option on the ASX is the Global X Physical Silver Structured ETF (ASX: ETPMAG). This ETF represents an investment in physical silver bullion, but without the hassle of buying and storing those heavy bars or coins.
Instead, buying ETPMAG units represents an ownership stake in a pile of silver bullion stored in a London bank vault by the ETF provider. As such, this ASX silver share's price should rise and fall alongside the silver price.
If you're looking for a silver miner though, a pure-play option would be Silver Mines Ltd (ASX: SVL). This is one of the largest companies on the ASX that has its sole focus on silver production, and has risen by more than 90% in value this year.
The company tells investors that its NSW Bowdens Silver Project is one of the largest undeveloped silver projects in the world. Saying that, this ASX silver share is still in exploration phase, and is not yet actively producing the metal.
If you prefer a more mature silver miner, South32 Ltd (ASX: S32) is another potential ASX silver share to check out. This mining company produces a large range of commodities, including lead, aluminium, manganese, nickel, and, yes, silver. It currently operates silver mines in both Australia and North America.
Silver is obviously just one part of South32's earnings base. But many investors might prefer a more diversified exposure to this precious metal.
