Silver rises to record above US$80 in historic end-of-year rally

SILVER climbed to a record, pushing beyond US$80 an ounce for the first time to extend a historic end-of-year rally.

The white metal rose for a sixth session and is up about a quarter in that period – the biggest six-day increase in records since 1950. The recent advance has been buoyed by speculative inflows and lingering supply dislocations across major trading hubs after a short squeeze in October.

Precious metals have rallied this year, underpinned by elevated central-bank purchases, inflows to exchange-traded funds and three successive rate cuts by the US Federal Reserve. Lower borrowing costs are a tailwind for the commodities, which don’t pay interest, and traders are betting on more rate cuts in 2026.

The Bloomberg Dollar Spot Index, a key gauge of the US currency’s strength, fell 0.8 per cent last week, its biggest weekly drop since June. A weaker US dollar is generally supportive of gold and silver.

Spot silver rose 5.5 per cent to US$83.65 as at 7.23 am in Singapore. Gold edged up 0.1 per cent to US$4,539.93 an ounce. Platinum added 0.6 per cent and palladium was up 1.5 per cent. BLOOMBERG