Silver Soars Past $80: China Export Curbs Add Fuel to the Rally
Silver has vaulted above $80 an ounce as traders bet that tighter Chinese exports will deepen an already historic shortfall.
The $80 Milestone
Silver smashed through the $80-an-ounce ceiling at dawn in New York, a level last touched in 2011, as hedge funds and day traders piled into the metal that once jingled in pockets rather than portfolios.
Why Traders Are Gasping
The move capped a 28% sprint since early March, outpacing gold, the S&P 500, and even bitcoin over the same stretch. Analysts blame a classic supply scare: Beijing is quietly telling domestic smelters to curb overseas shipments so that factories at home can refill stockpiles hollowed out by solar-panel demand.
‘China’s message is simple—if you want silver, come to us and pay our price.’— David Chen, commodities strategist, Argonaut Securities
From Solar Panels to Stackers
- Photovoltaic cells now consume 18% of global silver output, up from 9% five years ago.
- Retail bullion sites report 300% spikes in one-ounce coin sales since Monday.
- ETF holdings have jumped 1,200 tonnes in two weeks, the fastest since 2010.
What Happens Next
Refiners in South Korea and Mexico are already working 24-hour shifts, yet warehouse stocks tracked by the London Bullion Market Association sit at a six-year low. Until those bars return, every headline about Chinese export quotas will keep the $90 target on dealers’ lips.