NEW YORK, December 28, 2025, 20:08 ET
- Spot silver set a new record at $83.62 after breaching $80 for the first time; it last traded around $82.
- Elon Musk warned the surge could hurt industry as silver costs jump and supply concerns build.
- Bloomberg cited speculative inflows and supply disruptions, with investors also betting on more U.S. rate cuts in 2026.
Spot silver crossed $80 an ounce for the first time late on Sunday, setting a fresh record as a year-end rally in precious metals accelerated. [1]
The sharp move matters for manufacturers because silver is used across industrial supply chains, including electronics and electrification that underpin solar panels, electric vehicles and data centres. [2]
The rally is also landing as traders position for further U.S. Federal Reserve rate cuts in 2026 and China prepares new rules governing silver exports for 2026-27. [3]
Spot silver — the price for immediate delivery — was up 3.9% at $82.22 per ounce by 2342 GMT on Dec. 28 after touching an all-time high of $83.62 earlier in the session. [4]
Silver has surged this year from about $29 at the start of 2025, drawing both industrial buyers and investors seeking protection against inflation and currency weakness. [5]
The move has been supported by robust industrial and investment demand, tightening inventories, geopolitical tensions and expectations of further U.S. rate cuts. [6]
Bloomberg reported silver has risen for six straight sessions and is up about a quarter over that span, the biggest six-day gain in records dating back to 1950. [7]
The jump has been amplified by speculative inflows and lingering disruptions in physical supply after an October short squeeze, when traders who were short silver rushed to buy back positions. [8]
Precious metals have rallied this year amid central-bank buying and inflows to exchange-traded funds, which trade like stocks and hold metal for investors, Bloomberg reported. [9]
Bloomberg’s dollar index fell 0.8% last week, its biggest weekly drop since June, adding support for commodities priced in greenbacks. [10]
Tesla CEO Elon Musk weighed in on X, calling the surge a problem for industry: “This is not good. Silver is needed in many industrial processes.” [11]
China’s Commerce Ministry has set out requirements for state-trading enterprises exporting silver for 2026-27, a framework that has fed supply concerns going into the new year. [12]
Gold hovered near $4,540 an ounce while platinum and palladium also rose in Asian trading on Monday, Bloomberg data showed. [13]
Tony Sycamore, a market analyst at IG, described the move as bubble-like as fresh money chased a thin market into year-end. [14]
With holiday liquidity still light, swings can be larger than usual until normal volumes return in January. [15]
References
1. www.reuters.com, 2. www.theguardian.com, 3. www.reuters.com, 4. www.reuters.com, 5. www.theguardian.com, 6. www.reuters.com, 7. www.businesstimes.com.sg, 8. www.businesstimes.com.sg, 9. www.businesstimes.com.sg, 10. www.businesstimes.com.sg, 11. x.com, 12. www.mofcom.gov.cn, 13. www.businesstimes.com.sg, 14. www.theguardian.com, 15. www.businesstimes.com.sg
