Elon Musk Sounds Alarm on China’s Silver Export Restrictions and Their Market Implications
Invesco global market strategist Brian Levitt discusses the key market drivers for 2026 and reveals the single-best investment for the new year on ‘Barron’s Roundtable.’
Tesla CEO Elon Musk has raised concerns regarding the rising prices of silver as China prepares to implement new export restrictions on this precious metal.
Musk’s alarm came in response to a post on his X social media platform, which highlighted that starting January 1, China will require government licenses for companies to export silver.
“This is not good. Silver is needed in many industrial processes,” Musk stated, emphasizing the metal’s critical role in various sectors.
Silver prices have skyrocketed to record highs this year, following its designation as a critical mineral by the U.S. government. This surge is attributed to supply shortages and increasing demand from both industrial users and investors. Silver is integral to numerous industries, including electronics, medicine, and renewable energy.
ETF RACE HITS $1T AT RECORD SPEED WITH MORE GAINS COMING
Tesla CEO Elon Musk warned that China’s silver export restrictions could pose a problem for industries relying on it as an input. (Chesnot/Getty Images / Getty Images)
As of Monday, silver prices have increased by over 142% in 2025, starting the year at just under $30 an ounce. The iShares Silver Trust, the largest exchange-traded fund linked to silver, has mirrored these gains.
During Monday’s trading session, spot silver prices briefly reached an all-time high of $83.62 an ounce before settling at $75.32.
According to ActivTrades analyst Ricardo Evangelista, “This morning’s price decline, which follows record highs, is mainly due to traders taking profits ahead of the year-end.” He also noted that “tentative optimism from the U.S. administration regarding progress in the Ukraine peace talks represents a mild headwind.”
OIL AND GAS DEMAND COULD GROW UNTIL 2050, IEA SAYS
Silver prices surged to record highs but have slipped on year-end profit-taking. (Michael M. Santiago/Getty Images / Getty Images)
David Meger, director of metals trading at High Ridge Futures, commented that profit-taking is contributing to the pullbacks from “spectacularly high levels.” He added, “I believe that the underlying fundamentals of (silver) supply constraints remain factors in the market, and we still have positive prospects going into 2026.”
Precious metals like silver and gold are also playing a significant role in the S&P 500’s rise to new highs as the year comes to a close.
| Ticker | 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 SURPASSES $50 AN OUNCE FOR FIRST TIME AMID GEOPOLITICAL, ECONOMIC UNCERTAINTY
Silver prices have surged amid rising demand and supply challenges. (Getty Images / Getty Images)
Chris Larkin, managing director of trading and investing at E*Trade from Morgan Stanley, noted, “If stocks are going to close out another year of double-digit gains on a high note, they’ll likely need to do much of the heavy lifting.” He added, “But precious metals may also play a key role.”
“Mining stocks were a significant part of the S&P 500’s drive to new highs last week, and they’ve been tracking the record-setting rallies in metals. 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.
Invesco global market strategist Brian Levitt discusses the key market drivers for 2026 and reveals the single-best investment for the new year on ‘Barron’s Roundtable.’
Tesla CEO Elon Musk has raised concerns regarding the rising prices of silver as China prepares to implement new export restrictions on this precious metal.
Musk’s alarm came in response to a post on his X social media platform, which highlighted that starting January 1, China will require government licenses for companies to export silver.
“This is not good. Silver is needed in many industrial processes,” Musk stated, emphasizing the metal’s critical role in various sectors.
Silver prices have skyrocketed to record highs this year, following its designation as a critical mineral by the U.S. government. This surge is attributed to supply shortages and increasing demand from both industrial users and investors. Silver is integral to numerous industries, including electronics, medicine, and renewable energy.
ETF RACE HITS $1T AT RECORD SPEED WITH MORE GAINS COMING
Tesla CEO Elon Musk warned that China’s silver export restrictions could pose a problem for industries relying on it as an input. (Chesnot/Getty Images / Getty Images)
As of Monday, silver prices have increased by over 142% in 2025, starting the year at just under $30 an ounce. The iShares Silver Trust, the largest exchange-traded fund linked to silver, has mirrored these gains.
During Monday’s trading session, spot silver prices briefly reached an all-time high of $83.62 an ounce before settling at $75.32.
According to ActivTrades analyst Ricardo Evangelista, “This morning’s price decline, which follows record highs, is mainly due to traders taking profits ahead of the year-end.” He also noted that “tentative optimism from the U.S. administration regarding progress in the Ukraine peace talks represents a mild headwind.”
OIL AND GAS DEMAND COULD GROW UNTIL 2050, IEA SAYS
Silver prices surged to record highs but have slipped on year-end profit-taking. (Michael M. Santiago/Getty Images / Getty Images)
David Meger, director of metals trading at High Ridge Futures, commented that profit-taking is contributing to the pullbacks from “spectacularly high levels.” He added, “I believe that the underlying fundamentals of (silver) supply constraints remain factors in the market, and we still have positive prospects going into 2026.”
Precious metals like silver and gold are also playing a significant role in the S&P 500’s rise to new highs as the year comes to a close.
| Ticker | 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 SURPASSES $50 AN OUNCE FOR FIRST TIME AMID GEOPOLITICAL, ECONOMIC UNCERTAINTY
Silver prices have surged amid rising demand and supply challenges. (Getty Images / Getty Images)
Chris Larkin, managing director of trading and investing at E*Trade from Morgan Stanley, noted, “If stocks are going to close out another year of double-digit gains on a high note, they’ll likely need to do much of the heavy lifting.” He added, “But precious metals may also play a key role.”
“Mining stocks were a significant part of the S&P 500’s drive to new highs last week, and they’ve been tracking the record-setting rallies in metals. 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.
GET FOX BUSINESS ON THE GO BY CLICKING HERE
Reuters contributed to this report.
