Silver Hits Record All-Time Highs Over $75

Silver has shattered records once again, breaching the $75 per ounce mark for the first time and extending gains to around $79 in recent trading. On December 26, spot silver peaked at highs between $75.14 and $79.11, marking a staggering year-to-date surge of approximately 158-169%, far outpacing gold’s impressive 70-73% rise.

This breakout caps a meteoric 2025 for the white metal, driven by a perfect storm of factors. Persistent supply deficits—exacerbated by silver’s designation as a U.S. critical mineral—have tightened physical markets, while robust industrial demand from sectors like solar panels, electric vehicles, electronics, and AI data centers continues to strain inventories. Geopolitical tensions, including U.S. actions in regions like Venezuela and Nigeria, have boosted safe-haven buying, amplified by a weakening U.S. dollar and expectations of further Federal Reserve rate cuts in 2026.

Thin year-end liquidity has fueled volatility, with silver jumping as much as 9% in a single session alongside record highs in gold (over $4,500/oz), platinum (near $2,450/oz), and palladium. Analysts attribute the rally to speculative momentum, structural shortages, and rotation from overextended equity markets amid debt concerns and global uncertainty.

Historically, silver’s previous nominal peak was around $49-50 in 1980 (adjusted for inflation, far higher), but 2025’s run has eclipsed all prior records in unadjusted terms. Some experts forecast potential for $80-90/oz in early 2026 if deficits persist and rate easing continues.

For investors, silver’s dual role as both industrial commodity and monetary asset has made it the standout performer among precious metals this year. While pullbacks are possible in volatile conditions, the fundamentals suggest the rally may have legs into the new year.