BiyaPay Analyst: Silver Surges Above $83, Musk Issues Rare Warning

On December 29th, spot silver opened sharply higher on Monday, breaking through the $80 and $83/ounce levels consecutively, rising over 5% intraday; gold opened higher but then fell back to around $4538/ounce. Market analysts attributed this to geopolitical tensions, a weakening dollar, and thin year-end liquidity amplifying volatility, coupled with tight physical supply and squeezed "paper silver" positions, driving prices higher. Elon Musk tweeted "This is not good," suggesting that rising silver prices could increase manufacturing costs. BiyaPay analysts believe silver is currently in a confluence of "industrial demand + safe-haven funds + tight physical supply," and if expectations of tariffs/restrictions escalate, sharp rises and falls are still likely in the short term; they advise investors to control leverage and position size. BiyaPay supports trading US/Hong Kong stocks/futures with USDT, covering both spot and contract trading, allowing users to capitalize on opportunities in multiple market fluctuations.