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.