Silver tops $75 an ounce for the first time in history

Silver prices surged above the symbolic threshold of $75 per ounce on Thursday for the first time in history, as precious and industrial metals reached unprecedented levels toward the end of the year, driven largely by economic and geopolitical uncertainty.

Silver climbed to $75.15 per ounce (31.1 grams), while gold also hit a new all-time high, trading at $4,531.04 per ounce.

Since January, gold prices have risen by 70%, while silver has recorded a remarkable 150% increase—annual performances comparable only to those seen in 1979.

Safe-Haven Demand Fuels Rally

Precious metals are traditionally considered safe-haven assets, attracting central banks, institutional investors, and private individuals seeking long-term security, particularly during periods of heightened uncertainty.

Gold and silver have benefited from renewed investor demand amid escalating geopolitical risks, notably linked to tensions surrounding the U.S.–Venezuela crisis.

At the same time, the U.S. dollar and American government bonds, which typically compete with precious metals as safe-haven investments, have become less attractive this year.

Dollar Weakness and Policy Uncertainty

Uncertainty surrounding the presidency of Donald Trump has contributed to the shift, a trend further reinforced by expectations of additional interest rate cuts by the U.S. Federal Reserve, making the dollar less appealing to many investors.

Some market participants have also voiced concerns over rising public debt in major economies and the possibility of a bubble in the artificial intelligence sector.

These uncertainties are pushing metal prices higher as investors increasingly opt to diversify their portfolios, according to John Plassard, an analyst at Cité Gestion Private Bank.

“Metals are increasingly being viewed as a form of protection rather than speculative investments,” Plassard told Agence France-Presse.