Silver prices hit record highs in 2025 as the metal faces supply shortages and rising industrial demand.
Elon Musk PHOTO: Getty images
Tesla CEO Elon Musk is drawing attention to rising silver prices as China prepares to impose new export restrictions on the precious metal.
Musk was responding to a post on his social media platform X that noted that starting Jan. 1, China will require companies to obtain government licenses to export silver, Fox Business reports.
“This is not good news. Silver is needed in many industrial processes,” said the Tesla CEO.
Silver prices have risen to record highs this year after it was designated by the US government as a critical mineral amid tight supply and growing demand from industrial users and investors. The metal is used in a variety of industries, including electronics, medicine and renewable energy.
David Meger, director of metals trading at High Ridge Futures, noted that profit-taking explains the temporary price drop from “spectacular levels” and added that “underlying fundamentals around silver supply constraints remain important drivers in the market and we have a positive outlook for 2026.”
Silver prices are up more than 142% in 2025. Spot silver prices briefly touched an all-time high of $83.62 an ounce in Monday's session before falling to $75.32.
Precious metals such as silver and gold are also helping push the S&P 500 to new highs as the year draws to a close.
“If stocks are going to end another year with double-digit gains, they're likely to make the bulk of the effort”said Chris Larkin, Managing Director of Trading and Investments at E*Trade, a division of Morgan Stanley.
