The price of silver has reached a record level, and Elon Musk warns that producers could be affected, highlighting the importance of this metal in industrial processes.

In December, the price of silver reached a historic high of $79 per ounce, rising from $56 at the beginning of the month and from $29 at the beginning of 2025. This increase is part of a general trend of rising prices for precious metals, including gold and platinum, amid expectations of interest rate cuts by the U.S. Federal Reserve in 2026. New export restrictions from China and geopolitical fears have amplified demand for silver, an essential metal in electrification, solar panels, and electric vehicles. Elon Musk warned that this situation could affect producers, highlighting the need for silver in industrial processes. Additionally, an investigation by the U.S. Department of Commerce into imports of critical minerals could lead to trade restrictions, further impacting supply. The rise in precious metal prices is supported by central bank purchases and an imbalance between supply and demand, and gold and silver could record their best results since 1979.