December 30, 2025
Article from Bloomberg by Jack Ryan
Article Synopsis
Silver has experienced extreme volatility, surging to a record above $84 an ounce before plunging to near $70, marking one of its largest reversals ever, while remaining up over 150% for the year. The rally has been fueled by heavy Chinese speculative buying, massive ETF inflows, and an options frenzy, all of which are tightening supplies in an already constrained market.
Technical indicators now suggest the move may be overextended, and rising futures margins could cool speculative activity. Meanwhile, broader precious-metal demand — driven by a weaker dollar, global trade tensions, and gold’s earlier surge — continues to support silver’s longer-term momentum.
