Silver Breaks $80, Setting New Record
Silver prices surged to a new record, breaking through $80 per ounce for the first time, extending a strong rally heading into the end of the year. This rise marked a historic moment, as silver has moved very aggressively in recent sessions.
The white metal rose for the sixth consecutive session and has gained about a quarter (±25%) in that period—the largest six-day gain in data dating back to 1950. The latest surge was driven by speculative fund inflows, coupled with supply disruptions still felt in several major trading centers following the short squeeze in October.
Throughout the year, the precious metals group has also strengthened, supported by persistently high central bank buying, inflows into exchange-traded funds (ETFs), and three consecutive interest rate cuts by the US Federal Reserve. Lower interest rates are usually a boost for commodities because they do not provide interest yields.
The market is also starting to position for further interest rate cuts in 2026. On the currency side, the Bloomberg Dollar Spot Index, an indicator of US dollar strength, fell 0.8% last week, its biggest weekly decline since June, and a weaker dollar generally supports gold and silver prices.
At 7:23 a.m. in Singapore, spot silver rose 5.5% to $83.65 per ounce. Gold edged up 0.1% to $4,539.93 per ounce, while platinum added 0.6% and palladium strengthened 1.5%. (asd)
Source: Newsmaker.id
