Overview
- Spot silver briefly jumped to about $84 an ounce early Monday before dropping as much as 5%, after successive records late last week.
- Comex futures hit an all‑time high near $79.70 on Friday, while India’s MCX contract set a record around Rs 2.42 lakh per kg.
- Market reports point to a multi‑year supply deficit, low inventories and steep physical delivery premiums, with sizable stocks parked in New York pending a U.S. Commerce Department review.
- China has announced export licensing for silver starting Jan. 1, 2026, a step traders say could restrict international supply.
- Investors are eyeing this week’s Federal Reserve minutes after three 2025 rate cuts, as Elon Musk warns the surge threatens manufacturers that rely on the metal.