Silver surged past US$75 an ounce for the first time on record, extending a broad rally in precious and industrial metals as investors sought safe havens amid lingering economic and geopolitical uncertainty.
Silver climbed to an intraday peak of US$75.1515 per ounce, marking a historic milestone for the metal, which is prized both as a store of value and for its widespread industrial use, particularly in electronics and renewable energy technologies.
Gold also advanced to a fresh all-time high, touching US$4,531.04 per ounce, underscoring strong demand for assets traditionally viewed as hedges against inflation, currency volatility and market risk.
Analysts said the twin rallies reflected a combination of factors, including expectations of looser monetary policy in major economies, sustained geopolitical tensions, and robust demand linked to the global energy transition. Silver has benefited not only from safe-haven buying but also from rising consumption in solar panels, electric vehicles and other green technologies.
The surge comes as investors reassess growth prospects and inflation risks heading into the end of the year, with central banks signalling a more cautious stance after an extended period of tight monetary policy.
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Market watchers said volatility could remain elevated, with precious metals likely to stay in focus as long as uncertainty over global growth, interest rates and geopolitics persists.
