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Brian Levitt, Invesco Global Market Strategist, discusses key market drivers for 2026 and reveals the best investment for the new year during the ‘Barron’s Roundtable’.
CEO of Tesla Elon Musk China is concerned about soaring silver prices as China prepares to impose new export restrictions on the precious metal.
Musk responded to a post on his social media platform
“This is not good. Money is necessary in many industrial processes,” said the Tesla CEO.
Silver Price have reached record prices this year after being designated a critical mineral by the US government amid a supply shortage and growing demand from industrial users as well as investors. The metal is used in various industries, including electronics, medicine and renewable energy.
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Tesla CEO Elon Musk has warned that Chinese restrictions on silver exports could pose a problem for industries that rely on it as an input. (Chesnot/Getty Images/Getty Images)
Silver prices rose more than 142% in 2025 on Monday after starting the year at just under $30 an ounce. iShares Silver Trust, the largest silver-related exchange-traded fund, mirrored the metal’s gains.
Spot silver prices briefly touched a record level by $83.62 an ounce during Monday’s trading session before falling to $75.32.
“This morning’s price drop, which follows record highs, is mainly attributable to traders taking profits before the end of the year,” said Ricardo Evangelista, analyst at ActivTrades. “The US administration’s tepid optimism about progress in Ukraine peace talks also represents a slight headwind.”
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Silver prices reached record highs but retreated following year-end profit-taking. (Michael M. Santiago/Getty Images / Getty Images)
David Meger, director of metals trading at High Ridge Futures, noted that profit-taking is driving the pullbacks from “spectacularly high levels” and added: “I believe the underlying fundamentals of (silver) supply constraints remain factors in the market, and we still have a positive outlook through 2026.”
Precious metals like silver and gold also contribute to the Rise in the S&P 500 to new heights as the calendar prepares to turn to the new year.
| Teleprinter | Security | Last | Change | Change % |
|---|---|---|---|---|
| GLD | SPDR GOLD SHARES TRUST – USD ACC | 399.02 | +0.45 |
+0.11% |
| SLV | ISHARES SILVER TRUST – USD ACC | 65.40 | -5.72 |
-8.04% |
| SPY | SPDR S&P 500 ETF TRUST – USD DIS | 680.59 | +4.12 |
+0.61% |
Silver prices surged amid growing demand and supply concerns. (Getty Images/Getty Images)
“If stocks want to close out another year of double-digit gains on a positive note, they’ll probably have to do the heavy lifting,” said Chris Larkin, managing director of trading and investments at E*Trade at Morgan Stanley. “But precious metals can also play a key role.”
“Mining stocks played a big role in pushing the S&P 500 to new highs last week, and they followed the metals’ record rallies. If gold and silver close out 2025 at record highs, the S&P 500 may have a better chance of doing the same,” Larkin explained.
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Reuters contributed to this report.
