Silver prices have surged over 35% in December, with a $4 increase, according to economist Peter Schiff. Despite this significant rise, the silver stock ETF (SIL) only recorded an 11% gain during the same period. This discrepancy has raised questions among traders about the ETF's performance, especially given the strong inflows into the sector. The underperformance of the ETF compared to the metal's rally highlights a potential disconnect between physical silver prices and ETF valuations.