Silver Breaks $80 An Ounce
Silver was the star in November, up 19% for the month, and 95% for the year, setting a new record high above $56 per ounce at the time. Then, in December, Silver took a huge jump and performed even stronger, setting new record highs seemingly every day. With just a few days left in the year, Silver eclipsed $79 an ounce on the day after Christmas. Then, heading into Monday, silver shot up to $83 before quickly retreating, mostly due to profit-taking. I have said for years that Silver is the more volatile of the precious metals, which is one of the reasons for the big swings, but this dip is the perfect opportunity to buy.
Why does silver continue to be so strong? Basically, silver mine production has been decreasing over the last 10 years, forcing some above-ground supply out of hiding, including some coin melt (perish the thought!). Also, industrial demand has been rising steadily, driven primarily by silver’s use in electric vehicles, AI components, and photovoltaic cells. In fact, news out of China indicates new restrictions on Silver exports as the communist nation will begin stockpiling silver for its industrial uses over the next two years.
Gold also performed well in both November and December, and there is an argument that Gold could reach $7,000 an ounce in 2026. On December 26, Gold ended the day at over $4,432 an ounce.
Gold, Silver, Platinum and Palladium All Outperform Stocks for 2025
Silver skyrockets, up 175% this year, and +18% in the last week alone, but Platinum is up even more, +24% last week and +179% for the year-to-date. Despite its slower growth rate, Gold is up 72% for the year so far (its best year since 1979) and +4.4% last week. Palladium was up 24% last week and +124% for the year. In comparison, major stock market indexes are up between 15% (Dow) and 22% (Nasdaq). We will send out the final accounting for the metals and other markets next Monday. Happy New Year!
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