🚨 China’s Silver Ban: It’s not a 100% ban, but it’s effectively a "stranglehold."

As of January 1, 2026, China implemented a new licensing regime. Only 44 state-approved companies are allowed to export silver.

Since China controls about 60–70% of refined silver, this has caused physical silver premiums in places like Shanghai to explode to over $80/oz, even while Western "paper" prices lag behind.