Gold and Commodities

Silver Slides 6 Percent After Elon Musk’s Remarks on Chinese Export Restrictions

Silver rally—fueled by Fed rate cut expectations and Chinese export restrictions—takes a breather.
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Silver Slides 6 Percent After Elon Musk’s Remarks on Chinese Export Restrictions
Silver for sale in a shop at the Grand Baazar in Istanbul, on Oct. 10, 2025. Yasin Akgul/AFP via Getty Images
Andrew Moran
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Silver prices fell 6 percent to start the holiday‑shortened trading week, days after industrialist Elon Musk weighed in on China’s planned export restrictions for 2026.
On Dec. 29, silver plummeted more than $5, or about 6.7 percent, to around $72 per ounce on the COMEX division of the New York Mercantile Exchange.
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Andrew Moran
Andrew Moran
Author
Andrew Moran has been writing about business, economics, and finance for more than a decade. He is the author of "The War on Cash."