What is the story about?
Silver prices in the global markets are up for the seventh day in a row, and have now crossed the mark of $80 an ounce in early trading, extending a gravity-defying rally, that has even surpassed the historic short-squeeze of October.
Futures contracts for March hit an intraday high of $82.67 an ounce in early trading, a gain of another 7%, after a 11% surge on Friday. The surge on Friday was the biggest in a single session since 2008.
The gains albeit, come on thin volumes, due to the ongoing holiday season.
At the highs, Silver prices are now up 180% so far in 2025, with three more sessions to go for the year to close. This puts Silver on course for its best calendar year return since 1979, when the metal had gained over 200%.
Speculative inflows, supply deficit, industrial demand, are all powering Silver prices higher, with analysts stating that trading positions on paper are now being covered with physical volume, and there is not enough supply to cover that demand.
Supply deficit is also a reason powering the rally in Platinum, whose prices are also up this morning, and have risen over 40% already in December. Futures for the January contracts crossed the $2,500 mark in early trade, for the first time since data began to be compiled in 1987.
In comparison to the breakneck rally seen in Silver, Gold prices are relatively little changed this morning, but continue to trade above the $4,550 an ounce mark.
Futures contracts for March hit an intraday high of $82.67 an ounce in early trading, a gain of another 7%, after a 11% surge on Friday. The surge on Friday was the biggest in a single session since 2008.
The gains albeit, come on thin volumes, due to the ongoing holiday season.
At the highs, Silver prices are now up 180% so far in 2025, with three more sessions to go for the year to close. This puts Silver on course for its best calendar year return since 1979, when the metal had gained over 200%.
Speculative inflows, supply deficit, industrial demand, are all powering Silver prices higher, with analysts stating that trading positions on paper are now being covered with physical volume, and there is not enough supply to cover that demand.
Supply deficit is also a reason powering the rally in Platinum, whose prices are also up this morning, and have risen over 40% already in December. Futures for the January contracts crossed the $2,500 mark in early trade, for the first time since data began to be compiled in 1987.
In comparison to the breakneck rally seen in Silver, Gold prices are relatively little changed this morning, but continue to trade above the $4,550 an ounce mark.
