Silver hit a record $80 an ounce on Friday, Dec. 26, up from just $29 an ounce at the start of 2025, marking a 179% year-to-date rise. The metal’s price then retreated 5% on Monday, in a rare moment of volatility for a precious metal asset.
Musk, responding to a post on X about Chinese export restrictions, wrote: “This is not good. Silver is needed in many industrial processes.”
Maybe this will lead to more silver production and recycling. There's a lot of economically recoverable silver still.
Yeah, but this is too early and supply could takw years to scale. For now EVs, solar, and electronics will still face cost pressure.
Recycling is fast but we may not be at enough people's reservation prices yet.
Still, Elon's right about how useful silver is, so this pressure isn't temporary and production needs to ramp up to meet growing industrial demand.
I hate that we have to hear Elon's takes just because he owns Twitter 😒
this is why precious metals are harmful to society when used as money