Precious Metals 21 December 2025 - 24 December 2025

Silver hit a record $72.70 per ounce early December 24 before retreating to $71.22 (ask) at 10:33 AM ET, with a bid of $69.74, according to APMEX. The 24-hour change stood at -$0.51 (-0.71%) as thin holiday trading widened spreads and amplified swings. Reuters cited Fed rate-cut expectations and a weaker dollar as key drivers. Silver remained above $70 despite the sharp intraday reversal.

Silver surged past $70 per ounce for the first time on December 23, 2025, reaching spot levels above $71.50 late in New York trading. Major feeds showed the metal up over 3% on the day, with intraday lows near $68.80 and highs around $71.63. The rally followed strong industrial and investment demand, tighter inventories, and a weaker U.S. dollar.

Spot silver closed at $67.14 an ounce Friday after hitting a record high near $67.45, capping a weekly surge of over 120% year-to-date. Trading has thinned ahead of the holidays, with analysts warning of possible volatility and a short-term pullback. The rally has been driven by heavy investment demand, tight supply, and expectations of U.S. rate cuts after softer inflation and higher unemployment data.