Silver falls more than 5% on profit-taking
Istanbul, Dec. 31 (Hibya) – Silver fell more than 5% to $73 per ounce on Wednesday after reaching a record high above $80 per ounce earlier in the week, as investors cashed in year-end profits.
Nevertheless, silver prices surged rapidly over the year and the metal is on track for its best annual performance since 1979, when it gained around 470%.
Over the year, silver gained 162%, becoming one of the best-performing commodities and outperforming most major stock indices and currencies.
Analysts expect silver to continue benefiting from strong industrial and investment demand, especially if U.S. interest rates are cut in 2026.
Tim Waterer, chief market analyst at KCM Trade, said both retail and institutional demand for metals remains strong, and that structural factors such as strategic importance and supply constraints will support the market despite short-term pullbacks.
British News Agency
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