Silver Price Breaks Record Set in 1980
Silver prices soared to a record high on Monday, surpassing a benchmark set during the Hunt brothers’ notorious attempt to corner the market in 1980. Silver futures closed at $50.13 per troy ounce, up nearly 7% in a single day, eclipsing the previous nominal high of $48.70, according to the Wall Street Journal. Adjusted for inflation, the 1980 peak would exceed $200 today.
The surge reflects unusual market dynamics. Silver has jumped 73% in 2025, outpacing gold, which has risen 56%, as well as broader stock market gains. Investors are flocking to silver as a safe haven amid inflation and economic uncertainty, while industrial demand—particularly from solar panel manufacturers—is also driving prices higher. Inventory levels have fallen sharply, especially in London, as traders compete for supply and hedge against potential US tariffs.
The rally is partly fueled by a shift from gold, which itself hit a record on Monday, climbing past $4,100 an ounce, Reuters reports. Silver is increasingly viewed as a more accessible alternative, attracting both investors and jewelry buyers. Concerns about supply shortages have sparked hoarding, and the US government is reportedly considering classifying silver as a critical mineral, raising the possibility of new tariffs.
The Hunt brothers’ legendary silver gamble inspired the comedy Trading Places, the Journal notes. Their massive positions unraveled after “Silver Thursday” in March 1980, when they failed to meet a margin call, triggering panic in the market. Their holdings plummeted in value, trading rules were tightened, and the brothers eventually declared bankruptcy following a market manipulation lawsuit.
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