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. 1
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. 1
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. 2
The move has been supported by robust industrial and investment demand, tightening inventories, geopolitical tensions and expectations of further U.S. rate cuts. 1
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. 3
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. 3
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. 3
Bloomberg’s dollar index fell 0.8% last week, its biggest weekly drop since June, adding support for commodities priced in greenbacks. 3
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.” 4
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. 5
Gold hovered near $4,540 an ounce while platinum and palladium also rose in Asian trading on Monday, Bloomberg data showed. 3
Tony Sycamore, a market analyst at IG, described the move as bubble-like as fresh money chased a thin market into year-end. 2
With holiday liquidity still light, swings can be larger than usual until normal volumes return in January. 3
