December 29, 2025, 9:25 a.mDecember 29, 2025, 09:26
Silver prices came under pressure on Monday after a record rally above $80 an ounce. After a high of around $84 in Asian trading, profit-taking began and the price temporarily fell to around $75 per troy ounce in the early morning.
Silver had already exceeded the $75 mark for the first time on Friday. Precious metals are reaching new highs at the end of the year, buoyed by economic and geopolitical uncertainty and a weaker dollar.
The price of silver has more than doubled since the beginning of the year.Image: Shutterstock
Since the beginning of the year, the price of silver has more than doubled, with the recent peak being well over 150 percent. The price of silver rose rapidly, especially in December.
Musk emphasizes importance
Silver received additional attention following statements made by US entrepreneur Elon Musk, who pointed out Chinese export restrictions at the weekend and emphasized the importance of the metal for industrial processes. At the same time, traders spoke of increasing speculation and a temporarily overheated market.
Despite the current correction, the outlook remains positive, according to experts. Strong industrial demand – such as solar, electric vehicles, AI data centers and electronics – is being met by falling inventories and a structural supply deficit, said Tony Sycamore of IG Australia.
Uncertainties and weaker US dollar
Gold also fell slightly on Monday and was most recently quoted at around $4,506 per ounce. Previously, the price had narrowly missed a new record high below $4,550. Gold has gained a good 70 percent since the beginning of the year. This makes the precious metal one of the best asset classes and is also heading for its highest annual profit since 1979, when the price rose by 127 percent.
Silver has recently gained significantly more than gold.Image: keystone
Both precious metals are supported by geopolitical uncertainties, a weaker US dollar and expectations of further interest rate cuts by the US Federal Reserve. While silver has recently gained significantly more than gold, analysts pointed to a certain amount of catching up to do and supply bottlenecks, particularly in China. (sda/awp/afp)