Silver continues to push into record territory as a broader precious metals rally gathers pace, with prices exhibiting crypto-like volatility over the weekend.
The metal surged to a new all-time high near $84 on Sunday (U.S. time), while gold also climbed to fresh peaks around $4,530. In contrast, the cryptocurrency market showed little momentum, continuing to struggle.
According to a Sunday report from markets publication The Kobeissi Letter, silver experienced extreme intraday swings, jumping 6% before plunging 10% within the span of an hour.
“Absolute insanity in silver right now,” The Kobeissi Letter wrote. “At 6:20 PM ET, just 20 minutes after futures opened, silver prices surged to a record high of $83.75, up 6%. By 7:30 PM ET, prices had fallen to $75.15, wiping out 10% of its value in just 70 minutes.”
Silver fluctuating like BTC
While precious metals such as silver and gold are typically viewed as relatively stable assets, silver has long been the more volatile of the two—and recent price action has reinforced that reputation.
With a new U.S. Federal Reserve chair expected to replace Jerome Powell in 2026, markets are increasingly pricing in the possibility of aggressive interest rate cuts under a less hawkish, more Trump-aligned leadership. Lower interest rates tend to reduce returns on bonds, pushing investors toward alternative assets such as gold and silver.
Silver’s rally is also being supported by strong industrial demand, as the metal is a key component in a wide range of manufactured products. In addition, it has become part of the so-called “debasement trade,” reflecting waning long-term confidence in the U.S. dollar amid ongoing monetary expansion.
Bitcoin yet to rally
While precious metals are surging on expectations of looser monetary policy, Bitcoin (BTC) and the broader crypto market have struggled to gain traction in December. BTC is down roughly 0.5% over the past 30 days, trading around $90,160 at the time of writing, according to CoinGecko data.
Despite reaching an all-time high of $120,000 in early October, Bitcoin has since pulled back and now requires a 6.5% rally to finish the year in positive territory—underscoring the divergence between crypto and traditional inflation-hedge assets.
