Florida Governor Ron DeSantis has openly criticized U.S. monetary policy following silver’s unprecedented rise past $103 per ounce, attributing this spike to inherent instability within the dollar system. In a post on the platform X, DeSantis remarked that if the U.S. had a stable currency, such record prices for silver would not occur. This statement came in reaction to data from Barchart, indicating that March 2026 silver futures reached a price of $103.405, reflecting a 7.3% increase.
DeSantis’s criticism is consistent with his broader monetary policy views. In 2025, he enacted legislation in Florida recognizing gold and silver as legal tender, effective from July 1, while also exempting these metals from sales tax. His remarks resonate with a growing trend among investors to “de-dollarize” or diversify their portfolios amid concerns over U.S. sovereign risk. Hedge fund manager Kenneth Griffin has expressed alarm over the rising precious metals as investors seek alternatives, and gold advocate Peter Schiff has suggested that the dollar’s decline will persist, potentially pushing gold prices to between $5,000 and $10,000 per ounce.
On the same day, March 2026 silver futures closed at $101.33, marking significant weekly growth. Precious metals ETFs also demonstrated strong performance, with the SPDR Gold Trust rising by 1.37%, the US Global GO GOLD and Precious Metal Miners ETF increasing by 1.82%, and the abrdn Physical Silver Shares ETF climbing 6.64%.
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