Weekly Mining Industry Update: Silver Surges, Platinum’s Quiet Rise, and Copper’s Strong Outlook
Welcome back to our weekly update. I’m Charlotte Mloud with InvestingNews.com, here to walk you through some of the biggest stories shaping the mining industry this week. If you find this coverage insightful, please remember to hit the like button, subscribe to our channel, and leave your comments below. Let’s dive in.
Silver Price Climbs Amid Market Tightness
The silver price has been on a notable upward trajectory this week. On December 17th, silver surged past the $66 per ounce mark, reaching a new record high before retreating slightly. This increase has captured the attention of investors and market watchers alike.
Meanwhile, gold has hovered around the $4,330 per ounce range for much of the week, peaking at $4,360 on December 18th—drawing closer to its own record highs.
Investor focus this week was heavily centered on the November U.S. Consumer Price Index (CPI) data released on December 18th. The headline CPI rose by 2.7% year-on-year, with core CPI (excluding food and energy) posting a 2.6% increase. These figures were significantly lower than market expectations. However, given the U.S. government shutdown, data collection was disrupted, leaving analysts questioning the accuracy and reliability of the data. The Bureau of Labor Statistics (BLS) had to rely on methodological assumptions after the complete cancellation of the October CPI report and a delayed start to November data collection, sparking concerns about potential rebounds in December’s figures.
Additional labor market data for October and November revealed an increase in the unemployment rate to 4.6% in November—the highest since 2021. While 64,000 jobs were added in November, October saw a loss of 105,000 jobs, and revisions adjusted downward 33,000 jobs from the prior two months.
Beyond economic data, there still remains significant discussion around behind-the-scenes factors influencing silver prices. John Rubino, a Substack newsletter writer, offered insight into some ongoing market tensions:
“A lot of the discontinuities we’re seeing in the silver market right now are due to big exchanges like COMEX possibly not having enough silver to satisfy futures contract holders. Simply put, more investors hold long futures contracts demanding silver than the amount physically available. The number of contracts standing for delivery is increasing while silver availability on exchanges is shrinking… Sometimes unusual actions are taken by exchanges to prevent defaults, such as temporarily shutting down during surges. This is typical in market squeezes.”
For those interested in a deeper understanding, a full interview with John Rubino is linked below.
Platinum’s Steady and Significant 2025 Growth
While silver and gold have dominated the spotlight, platinum has been quietly delivering significant gains in 2025. The metal is up approximately 105% year-to-date and recently neared $1,970 per ounce.
Platinum shares similarities with silver, serving both precious metal and industrial purposes. It has experienced persistent supply deficits in recent years, fueling its price rise. Looking forward to 2026, however, the World Platinum Investment Council forecasts a balanced market.
This anticipated balance prompted questions about whether platinum prices might decline next year. Edward Sturk, an industry expert, provides important nuance:
“The Council expects some profit-taking from ETFs, but if that doesn’t materialize, the platinum deficit may continue. Moreover, a balanced market does not erase the cumulative deficits of previous years. Above-ground stocks remain low, and three years of deficits haven’t been replenished. Market tightness and metal shortages will likely persist even in a balanced scenario.”
His full interview, offering a broader outlook on platinum’s role in 2026, is also linked below for further reading.
Copper Hits Record High Amid Strong Demand and Constrained Supply
It’s not just precious metals setting new records; copper has also climbed to historic levels. Last week, it touched nearly $12,000 per metric ton on the London Metal Exchange before a minor pullback.
Market participants remain bullish on copper’s long-term outlook, as demand continues to grow alongside supply constraints. Independent speculator Lobo Tra named copper as his top confidence trade for 2025 and plans to maintain that stance going into 2026. Lobo shared his perspective:
“Copper’s fundamentals remain strong. Demand looks phenomenal while supply has been exceptionally constrained, partly due to four major mining accidents this year—including some with fatalities. These unfortunate incidents aren’t trends but rather disruptions that highlight the challenges in ramping up supply. Finding, permitting, and developing mega copper deposits takes significant time and is not keeping pace with demand growth.”
For those interested in speculative insights on copper’s future, Lobo Tra’s complete interview is available via the link below.
Thank you for joining me for this update on the mining sector’s key developments. Don’t forget to like this video, subscribe to our channel, and share your thoughts in the comments. Stay tuned for more insights into mining investments and market trends.
From Australia — Charlotte Mloud, InvestingNews.com
Additional Resources:
- Full interview with John Rubino on silver market dynamics
- Full interview with Edward Sturk on platinum’s 2026 outlook
- Full interview with Lobo Tra on copper market fundamentals