Overview
- COMEX silver touched an all-time high around $79.70 per ounce as India’s MCX futures hit a record ₹2.42 lakh per kg following a week of double‑digit gains.
- Beijing’s rules taking effect on January 1, 2026 will require licences for silver exports, a shift market participants say will curb international availability.
- Traders report delivery delays, higher bullion premiums and multi‑year lows in vault inventories, with analysts citing a roughly 115–120 million‑ounce supply deficit this year.
- Strong demand from solar, EVs, electronics and data‑centre hardware, alongside ETF inflows and expectations of US rate cuts, is accelerating the move.
- Elon Musk warned the spike could hurt manufacturers that rely on silver, while some analysts project the possibility of $100 per ounce in 2026 as traders watch upcoming Fed minutes.