Florida Gov. Ron DeSantis (R) criticized U.S. monetary policy on Friday, attributing silver’s historic surge past $103 per ounce to fundamental instability in the dollar.
DeSantis Blasts Fiat Currency System
“If the US actually had a stable currency you wouldn’t see silver setting new records,” DeSantis wrote on X, responding to data from Barchart showing silver hit $103 for the first time in history.
At the time Santos posted, the March 2026 silver futures contract (SIH26) reached $103.405, up 7.3%.
The statement aligns with DeSantis’s broader monetary policy stance .
He signed legislation in 2025 making gold and silver legal tender in Florida, effective July 1, and exempting both metals from sales tax.
Broader De-Dollarization Trend
Earlier, billionaire hedge fund manager Kenneth Griffin expressed concerns about a surge in precious metals and about investors seeking ways to ‘effectively de-dollarize or derisk their portfolios vis-a-vis US sovereign risk,’ while gold advocate Peter Schiff said the dollar's decline would continue, with precious metals potentially reaching $5,000 to $10,000 per ounce .
On Friday, March 2026 silver futures closed at $101.33, up 5.15% on the day and 9.73% over the past five days, with a 52-week range of $29.62 to $103.53.
On Friday, precious metals ETFs saw significant gains, with SPDR Gold Trust (NYSE: GLD ) up 1.37%, US Global GO GOLD and Precious Metal Miners ETF (NYSE: GOAU ) up 1.82%, and abrdn Physical Silver Shares ETF (NYSE: SIVR ) up 6.64%.
Photo Courtesy: Andrew Cline on Shutterstock.com
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
GLD SPDR Gold Shares $458.99 0.22% Overview GOAU US Global GO Gold and Precious Metal Miners ETF $53.43 2.05% SIVR abrdn Physical Silver Shares ETF $99.09 1.59% Market News and Data brought to you by Benzinga APIs© 2026 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Add CommentPosted In: Government Macro Economic Events Macro Notification Market Summary News Economics Markets General Peter Schiff Ron DeSantis