With the recent record rally in precious metals, Jim Cramer is sticking with his longstanding preference for gold while drawing a hard line on silver.

Silver Rally ‘Getting Ridiculous’

On Monday, in a post on X, the host of CNBC’s “Mad Money” expressed skepticism on the durability of silver’s monumental rally in recent months, saying he is a “huge gold bug,” and not a “silver bug.” Cramer also added that he would sell his family silver to take advantage of the high prevailing prices if there were no “sentimental value to it.”

“It is getting ridiculous,” he said, as silver touched a new record high of $117.69 on Monday, before experiencing a steep pullback.

Cramer’s comments come amid a steep surge in silver prices in recent months, at 145% in 2025 and 57% over the past month alone, driven by shrinking supply alongside surging industrial demand.

Gold has witnessed a similar 64% rally in 2025 and is up 17.13% this year so far, primarily driven by monetary and investment.

The Biggest ‘Intra-Day’ Reversal In History

After its rally to dizzying heights on Monday, silver witnessed a steep “reversal,” erasing its entire 14% gain during the day, and wiping out $900 billion in market capitalization, all within the span of 90 minutes, underscoring the metal’s growing volatility, compared to its reputation for being a traditional safe-haven asset.

Analyst Mike Alfred attributed this decline to the market going “no bid,” or a situation where there is no demand from buyers at a particular price point.

“Dealers have way too much inventory and aren't willing to buy,” Alfred said, while adding that prices need to go lower for “the market to unclog,” which he warned could be “very ugly.”

The iShares Silver Trust (NYSE:SLV), which tracks the price of silver, was up 5.84% on Monday, closing at $98.34, and is up 2.25% overnight. Silver prices currently trade at $110.68 per ounce.

Photo courtesy: katz / Shutterstock.com