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Silver Prices Surge Past $80
Silver prices breached the $80 per ounce mark on Wednesday, marking four consecutive days of gains and inching closer to its all-time peak. The white metal's upward momentum is building, potentially challenging the previous record of $84.01 set on December 29, 2025.
Momentum Fueled by Retail Demand
The price of silver climbed 1.8% in Wednesday's session, adding to a remarkable gain of over 13% in the preceding three days. A significant factor behind this surge is heightened retail investor appetite, with notable interest emanating from China.
Gold Prices Steady Amid Economic Data Watch
Meanwhile, gold prices showed a slight decline, edging 0.1% lower to $4,490.51 an ounce in early Singapore trading. Traders are now focused on upcoming U.S. economic indicators, particularly the December jobs report slated for Friday, seeking cues on potential Federal Reserve interest rate adjustments.
Geopolitical Tensions and Fed Expectations
Geopolitical undercurrents, including heightened tensions between China and Japan, persist. However, market participants are weighing these factors against expectations that weakening manufacturing data could prompt further interest rate cuts from the Federal Reserve. Fed Governor Stephen Miran suggested a need for more than a percentage point of cuts in 2026, a scenario that typically benefits non-yielding precious metals.