U.S. Stock Futures Slip as Year-End Trading Turns Cautious 
China Manufacturing PMI Rebounds in December, Offering Boost to Economic Growth Outlook 
Asian Markets End Year on AI Optimism as Precious Metals and Currencies Shine 
U.S. Dollar Starts 2026 Weak as Yen, Euro and Sterling Hold Firm Amid Rate Cut Expectations 
South Korean Won Slides Despite Government Efforts to Stabilize Currency Markets 
USDA $12 Billion Farm Aid Program Draws Mixed Reactions from Row Crop Farmers 
South Korea Exports Hit Record High as Global Trade Momentum Builds 
Gold Prices Rebound in Europe as Geopolitical Tensions and Fed Outlook Support Bullion 
South Korea Factory Output Misses Forecasts in November Amid Ongoing Economic Uncertainty 
Forex Markets Hold Steady as Traders Await Fed Minutes Amid Thin Year-End Volumes 
South Korea Factory Activity Returns to Growth in December on Export Rebound 
U.S. Stock Index Futures Steady as Markets Await Fed Policy Clues in Holiday-Thinned Trade 
Federal Reserve Begins Treasury Bill Purchases to Stabilize Reserves and Money Markets 
China Imposes 55% Tariff on Beef Imports Above Quota to Protect Domestic Industry 
Citi Forecasts a Volatile but Ongoing Bull Market for S&P 500 in 2026 
Oil Prices Slip Slightly as Markets Weigh Geopolitical Risks and Supply Glut Concerns 
Individual investors are buying silver at an unprecedented pace, turning the metal into one of the most crowded commodity trades in global markets, according to a new report from Vanda Research. Over the past 30 days alone, retail investors have poured approximately $921.8 million into silver-backed exchange-traded funds, highlighting a renewed surge of interest that rivals and even exceeds the famous 2021 silver rally.
A major beneficiary of this trend is the iShares Silver Trust ETF, which recorded $69.2 million in retail inflows on Wednesday. This marked its second-largest single day of retail buying on record, surpassed only during the speculative frenzy of 2021 when retail traders helped push silver prices sharply higher. The ETF has gained 31.3% year-to-date and has surged an extraordinary 210.9% over the past 12 months, reflecting the strength of the silver price rally.
Silver prices themselves have climbed to historic levels. On Thursday afternoon, silver was trading at $91.90 per ounce, up significantly from $72.62 at the start of the year. Prices briefly exceeded $93 per ounce earlier in the week, nearing record intraday highs, according to data from LSEG. The rally has also fueled gains in silver mining stocks, with the MSCI ACWI Select Silver Miners Investable Index soaring around 225% over the past year as investors seek leveraged exposure to rising silver prices.
While the 2021 silver surge was closely linked to the meme stock boom involving names like GameStop and AMC Entertainment, analysts at Vanda argue this rally is different. They describe the current move as a “structural accumulation,” suggesting silver is increasingly viewed as a core macro asset rather than a purely speculative trade. Retail investors are also active in leveraged and inverse products such as the ProShares UltraShort Silver ETF, underscoring their growing sophistication and influence.
Still, some market participants urge caution. Kathy Kriskey, head of alternatives ETF strategy at Invesco, noted that silver took 45 years to break above $50 an ounce and has now raced past $80 in just a few months, raising concerns about volatility and sustainability despite the strong fundamentals driving demand.
