Peter Schiff Says Silver Investors Are In 'Denial' As Mining Stocks Continue To Lag: 'Should Have Doubled' In December
- - Peter Schiff Says Silver Investors Are In 'Denial' As Mining Stocks Continue To Lag: 'Should Have Doubled' In December
Vishaal SanjayJanuary 2, 2026 at 5:01 AM
0
Economist Peter Schiff is calling out the glaring disconnect between the surging price of silver and the market’s reaction to key silver mining stocks.
These Stocks ‘Should Have Doubled’ In December
On Tuesday, in a series of posts on X, Schiff, a long-time advocate of hard assets and precious metals, pointed out that while silver, tracked by the iShares Silver Trust (NYSE:SLV) surged 35% in December, the Global X Silver Miners ETF (NYSE:SIL), which tracks prominent silver miners, is up just 11%.
“Investors are in denial,” Schiff said, while noting that Silver prices were up by another $4 on Tuesday morning, with miners yet to capture this move.
Don't Miss:
If there was a new fund backed by Jeff Bezos offering a 7-9% target yield with monthly dividends would you invest in it?
Have $100k+ to invest? Charlie Munger says that's the toughest milestone — don't stall now. Get matched with a fiduciary advisor and keep building
Schiff said that silver miners typically offer leveraged exposure to the underlying metal, and their lackluster performance in the face of such a sharp rally is puzzling. “Given that move, silver stocks should have doubled” over the course of this month, he said.
Stock investors are in denial. Silver is up $4 this morning and is now up over 35% so far in December alone. Yet $SIL, a silver stock ETF, is up just 11% this month. Silver stocks are highly leveraged to the silver price. Given that move, silver stocks should have doubled in Dec.
— Peter Schiff (@PeterSchiff) December 30, 2025
Silver prices experienced a steep reversal on Monday, erasing most of Friday’s gains. However, according to Schiff, the real overreaction was in the equities market.
Even though the commodity was still “about 10% above the prior week's close,” Schiff noted that silver mining stocks gave up all of last week's gains, even though they “barely rose on Friday” to begin with.
Trending: Americans With a Financial Plan Can 4X Their Wealth — Get Your Personalized Plan from a CFP Pro
According to Schiff, this mismatch presents an attractive opportunity for investors. “Following a 14% silver correction, silver stocks are even better buys now,” he said.
Silver is down 9% today, giving up most of Friday's gains. Yet silver stocks, which barely rose on Friday, have lost all of last week's gains, despite silver being about 10% above the prior week's close. Following a 14% silver correction, silver stocks are even better buys now.
— Peter Schiff (@PeterSchiff) December 29, 2025
Mining Stocks, ETFs Fail To Keep Up With Silver’s Rally
Despite a historic surge in silver prices, leading silver mining stocks, junior miners, and ETFs have significantly underperformed, even as the metal notched its strongest monthly rally since the late 1970s, and is up 154.57% year-to-date.
Stocks / ETFs
Year-To-Date Performance
Month-To-Date Performance
Wheaton Precious Metals Corp. (NYSE:WPM)
+104.72%
+8.09%
Americas Gold And Silver Corp. (NYSE:USAS)
+444.90%
+13.14%
Coeur Mining Inc. (NYSE:CDE)
+191.77%
+6.66%
Aya Gold & Silver Inc. (OTC:AYASF)
+89.60%
+7.42%
New Pacific Metals Corp. (NYSE:NEWP)
+181.75%
+24.56%
Pan American Silver Corp. (NYSE:PAAS)
+146.56%
+14.34%
First Majestic Silver Corp. (NYSE:AG)
+170.08%
+6.76%
iShares MSCI Global Silver and Metals Miners ETF (BATS:SLVP)
+186.05%
+8.80%
Amplify Junior Silver Miners ETF (NYSE:SILJ)
+167.40%
+7.86%
Global X Silver Miners ETF
+158.18%
+9.53%
See Also: Buffett's Secret to Wealth? Private Real Estate—Get Institutional Access Yourself
Silver prices soared by over 6% to $76 per ounce on Tuesday, and are currently down 1.44% on Wednesday early morning, at $75.13 per ounce.
The Global X Silver Miners ETF was up 1.38% on Tuesday, closing at $85.51, and is up 0.57% overnight. The fund scores high on Momentum in Benzinga’s Edge Stock Rankings, with a favorable price trend in the short, medium and long terms. Click here for deeper insights into the fund, its peers and competitors.
Photo Courtesy: Tamer A Soliman on Shutterstock.com
Read Next: Wall Street's $12B Real Estate Manager Is Opening Its Doors to Individual Investors — Without the Crowdfunding Middlemen
"ACTIVE INVESTORS' SECRET WEAPON" Supercharge Your Stock Market Game with the #1 "news & everything else" trading tool: Benzinga Pro - Click here to start Your 14-Day Trial Now!
Get the latest stock analysis from Benzinga:
APPLE (AAPL): Free Stock Analysis Report
TESLA (TSLA): Free Stock Analysis Report
This article Peter Schiff Says Silver Investors Are In 'Denial' As Mining Stocks Continue To Lag: 'Should Have Doubled' In December originally appeared on Benzinga.com
© 2026 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Source: “AOL Money”
