A surge in the price of silver to record highs this month has prompted a warning from Elon Musk that manufacturers could suffer the consequences. Silver has risen sharply during December, part of a precious metals rally that also pushed gold and platinum to record levels on Boxing Day. New restrictions on silver exports from China, which begin on 1 January, have created supply fears while geopolitical worries have lifted demand for safe-haven assets. “The rally in precious metals has been supported by expectations of multiple Fed rate cuts in 2026, alongside robust central bank and private investor buying. However, the dominant driver of late has been a severe structural supply-demand imbalance in silver, sparking a scramble for physical metal,” Sycamore said.

Source: The Guardian December 28, 2025 19:12 UTC