A dizzying year-end rally has pushed silver prices about 160% higher in 2025, their largest annual climb since the inflationary shock of 1979.
The metal's roughly 8% increase Tuesday marked a rebound from Monday, when futures slid almost 8.7% after CME Group increased margin requirements to ensure traders put down more cash on their bets.
The last time silver had a one-day loss as steep as Monday was 2021. The culprit then: A similar move by CME helped cool some of the speculative mania around silver futures, GameStop shares and more that was linked to the online forum WallStreetBets.