Silver prices rose to an all-time high
29 December 12:08
During the day, silver prices rose to an all-time high of $83 per ounce, before falling back to $75 amid a meeting between US President Donald Trump and Ukrainian President Volodymyr Zelenskyy.
This was reported by Reuters, "Komersant Ukrainian" reports.
Spot gold fell by 1.7% to $4,455.34 per ounce, after hitting a record high of $4,549.71 on Friday. Gold futures in the United States for February delivery fell 1.2% to $4,500.30.
Spot silver fell by 4.6% to $75.47 per ounce, having rolled back from an all-time high of $83.62 recorded earlier in the trading session.
“The combination of profit-taking and seemingly productive talks between Trump and Zelenskiy over a potential peace deal has pushed gold and silver on the defensive,” said Tim Waterer, chief market analyst at KCM Trade.
US President Donald Trump said on Sunday that he and Ukrainian President Volodymyr Zelenskiy are “getting closer, maybe very close” to a deal to end the war in Ukraine.
Silver has already risen by 181% since the beginning of the year, outperforming gold, amid the status of a critical mineral for the United States, supply constraints and low inventories amid rising industrial and investment demand.
Gold also showed a spectacular rally in 2025, rising 72% since the beginning of the year and repeatedly updating historical highs.
The rise in gold was driven by a cocktail of factors: expectations of further US rate cuts, geopolitical tensions, active purchases by central banks, and growing positions in gold ETFs.
Waterer noted that the level of $5,000 per ounce seems to be a very achievable target for gold next year if the new Fed chairman gives the policy an even more dovish (soft) bias.
