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Silver bars are stacked in the safe room of the Pro Aurum gold house in Munich, Germany, January 10, 2025.
Angelika Warmuth | Reuters
Silver futures jumped 5% early Tuesday, continue The 2025 roller coaster for precious metals.
Money Futures contracts for March delivery rose 5.3% from last trading to $74.17 an ounce at 10:30 a.m. London time (5:30 a.m. Eastern), bringing year-to-date gains to 153%.
Silver prices increased significantly in 2025.
Silver futures hit a record high overnight Monday, hitting $80 an ounce for the first time. However, the gains quickly evaporated and the metal recorded its biggest one-day decline since February 2021, closing the session down 8.7%.
“It’s a historic decision” said KKM Financial CEO Jeff Kilburg on Monday. “It’s been a long time since we’ve seen a movement like this.”
However, commodity gains may not be as concentrated in 2026 as they have been this year, according to Florian Ielpo, head of macro at Lombard Odier Investment Managers. With growth expected to reaccelerate in many countries in 2026, precious metals and their safe-haven status could lose some of their shine.
“We see commodities as one of the best performers for next year… but the source of the performance comes more from cyclical commodities than from defensive precious metals,” Ielpo told “Squawk Box Europe” on Tuesday.
Gold futures also recovered from a sharp decline on Monday and were last trading 1.2% higher at $4,394.30 an ounce.
In the meantime, copper Futures were last up 1.9% at $5.673 an ounce.
Precious metals had an exceptional year, driven by multiple factors. As safe-haven assets, gold and silver have benefited from increased geopolitical tensions. They are also considered a hedge against inflation. A weaker U.S. dollar also makes metals cheaper and more attractive to foreign buyers.
Expected interest rate cuts and concerns about supply constraints have also pushed prices higher.
Over the weekend, Tesla CEO Elon Musk warned that China’s restrictions on silver exports, due to take effect on January 1, were “not good.”
“Money is necessary in many industrial processes” Musk wrote aboutwhich could lead to a further rise in prices.
Silver is commonly used in electronics, including solar panels, data centers and electric vehicles.
— CNBC’s Sarah Min contributed to this report
