Silver makes 6th all-time high today, now trading at $80 for the first time ever

Silver exploded past $80 an ounce for the first time ever on Friday, jumping more than 10% on the day in a dizzying rally that took just 90 minutes to surge from $78 to $80.

The breakout has stunned even long-time metal watchers, who say silver is now trading purely on momentum and fear.

The move adds to what’s already the strongest monthly run since December 1979, and puts the metal deep into uncharted territory.

Some bulls are already looking higher. They argue that to beat its inflation-adjusted 1980 peak, silver would need to clear $200 an ounce, meaning this might only be the start.

Others are warning this thing could snap just as fast. Brent Donnelly, head of Spectra Markets, summed it up: “Silver tends to be a product that goes parabolic, then collapses.” And right now? It’s full parabolic.

Demand’s coming from all corners; inflation fears, bond yields falling, and stock valuations still sky-high. But the real frenzy might be speculative.

Volume in options tied to the iShares Silver Trust ETF just hit the highest level since the Reddit-driven 2021 spike, with traders piling in simply because price keeps ripping. Silver’s smaller market compared to gold only fuels the swings.

Oil prices fell hard Friday, with both Brent and WTI crude dropping over $1 per barrel as traders bet on a fresh supply glut going into 2026.

Brent futures slid $1.13, or 1.82%, to $61.11, while WTI dropped $1.13, or 1.94%, to $57.22 by early afternoon in New York.

Prices have bounced in recent days thanks to short-term supply disruptions, but they’re still on track for a brutal finish to 2025. Brent’s down 18% this year, WTI 20%, marking the steepest annual slide since 2020.

Investors are also watching a possible peace breakthrough in Ukraine, with President Volodymyr Zelenskiy set to meet President Donald Trump this weekend for high-stakes talks.

If those talks show progress, it could cool off risk premiums baked into energy markets. But in the background, production just keeps climbing.

Meanwhile, confusion around the U.S. strike in Nigeria continues to swirl. While Trump claimed he ordered attacks in the northwest, Nigeria’s oil infrastructure sits mainly in the south, raising questions about whether the operation will have any real impact on output, or if markets are already looking past it.

Silver has stretched its monster rally even further Friday, jumping another 6% intraday to a fresh all-time high of $76 per ounce.

That puts the metal on pace for its biggest monthly gain since December 1979, as traders pile into haven assets and front-run possible US trade restrictions. It’s already up 158% this year, and now silver’s threatening to eclipse even gold in global safe-haven flows.

Currency markets were choppy, with the Japanese yen sliding again despite last week’s Bank of Japan rate hike.

The dollar rose 0.42% to 156.44 yen, as traders shrugged off the hike and focused on Japan’s aggressive fiscal stance, which has pushed bond yields to multi-year highs.

Investors are watching for possible intervention, but so far officials have stayed quiet.

Meanwhile, the dollar index nudged up 0.02% to 97.96, while the euro climbed 0.04% to $1.1782 and sterling fell 0.14% to $1.3504.

The broader dollar trend is still down for the year. Markets are heavily pricing in Fed rate cuts in 2026, with two to three 25bps cuts expected, and the first one possibly landing in March.

Fed officials are walking a tightrope, inflation’s still above 2%, but the labor market’s losing steam.

Over in crypto, Bitcoin ticked up 0.50% to $88,288, moving in sync with broader risk assets as traders brace for lower rates next year.

Emerging-market stocks and currencies are heading for their strongest week in nearly a month.

MSCI’s EM equities index climbed as much as 0.6% during Asian hours, hitting its highest point since November 14.

The five-day run now stands at +2.2%, tracking toward its best weekly gain since late November. It’s the latest leg in a 30% rally for EM equities in 2025, though analysts are warning the future hinges on two wildcards: AI momentum and what the Federal Reserve does next with rates.

Samsung Electronics hit an all-time high, helping South Korea and Taiwan drive regional performance, while markets in Hong Kong and Indonesia stayed shut for holidays.

On the currency side, developing-nation FX is up 0.6% on the week, the biggest move since August, with the Korean won leading the charge.

The won surged to its strongest level since November 4, helped by official comments earlier this week warning markets that further depreciation is “not desirable” and the government is ready to act.

China’s yuan, meanwhile, barely moved. The People’s Bank of China deliberately set its daily fix well below expectations, a move meant to cap the currency’s recent strength.

That came a day after the offshore yuan broke below 7 per dollar for the first time since September 2024, crossing a psychological barrier that spooked policymakers into stepping in.

Nvidia broke above $190.00 overnight, lifted by a massive $20 billion licensing agreement with Groq, the AI startup behind some of the fastest inference tech on the market.

Cryptopolitan had reported that Groq entered a non-exclusive deal with Nvidia to license its technology, though it left out the price.

Jonathan Ross, Groq’s founder and CEO, is now headed to Nvidia along with Sunny Madra and other senior execs, who’ll help scale the licensed systems from inside the GPU giant.

Meanwhile, copper melted through record after record, with contracts on Comex jumping 3% to $5.743 a pound, the highest level since that monster short squeeze back in July.

In Shanghai, copper rose 2.7% to 98,780 yuan a ton (that’s $14,090), capping off a wild year that’s seen metals rerated across the board. Traders are already betting on tighter supply next year, and the dollar’s weakness is only pouring fuel on the rally.

Copper’s now up over 42% in 2025, helped by everything from shipping shocks to the energy transition story that just won’t die.

And yeah, the dollar’s getting wrecked. Peter chimed in on that via a post on X, saying:

“King dollar’s reign is coming to an end. Gold will take the throne as the primary central bank reserve asset. That means the U.S. dollar will crash against other fiat currencies, and America’s free ride on the global gravy train will end. Prepare for a historic economic collapse.”

Between surging metals, Fed fears, and America’s foreign policy power flexing in Venezuela and Nigeria, traders are suddenly wondering how much longer the dollar can pretend to be the grown-up in the room.

Japan’s finance ministry will issue just ¥17.4 trillion ($111.6 billion) in super-long JGBs in the next fiscal year, the lowest level in 17 years, after cabinet approval Friday.

That’s down nearly 20% from the previous year, as the government faces a surge in bond yields following a stretch of record highs.

The selloff has been fueled by investor fears that Prime Minister Sanae Takaichi’s expansive spending plans will further stretch Japan’s already world-topping debt load. Yields climb when bond prices drop, and the market has been punishing long-term paper.

Takaichi pushed back this week, saying the draft budget still shows restraint and doesn’t lean heavily on debt. Still, total JGB issuance for the coming year will hit ¥180.7 trillion, down just under 5% from this year’s total.

The ministry is holding off on raising benchmark 10-year bond supply, but will boost issuance of 2- and 5-year notes by ¥2.4 trillion combined. A rare mid-year revision already cut long-bond issuance in June to ¥21.4 trillion from ¥24.6 trillion.

Starting next fiscal year, the ministry will also begin holding annual hearings with investors every June, seeking feedback as the Bank of Japan backs away from a decade of ultra-loose policy.

Meanwhile, retail issuance is set to rise to just under ¥6 trillion, up ¥0.5 trillion from this year.

Asian markets were mostly higher in light holiday trading, with Australia and Hong Kong offline for Boxing Day. South Korea’s Kospi rose 0.53%, while the smaller Kosdaq added 0.42%.

Japan’s Nikkei 225 jumped 476.09 points to 50,883.88, up 0.94%, extending its strong December run. The Shanghai Composite inched up 0.14% to 3,965.13, and the Hang Seng Index, though closed for most of the day, was last seen at 25,818.93, up 0.17%.

India’s Nifty 50 was unchanged at 26,142.10, with no major movement in early trade. U.S. equity futures opened slightly higher, continuing momentum from Wednesday’s rally that saw the S&P 500 notch a second straight record close at 6,932.05, up 0.32%.

The Dow Jones jumped 288.75 points to settle at 48,731.16, also a record. The Nasdaq Composite added 0.22%, closing at 23,613.31.

Silver blew past $75 per ounce in early trading Friday, notching a fresh all-time high and racking up a 158% gain for 2025.

The rally, supercharged since October’s short squeeze, has been intensified by swelling inflows into London vaults and looming trade tensions out of Washington.

Most of the world’s available silver is still holed up in New York, as traders wait for the US Commerce Department to drop findings from its national security probe on critical mineral imports, silver included.

That review could open the door to tariffs or restrictions, and the market isn’t waiting around.

Gold’s not far behind. Spot prices for immediate delivery crept toward $4,525 an ounce, flirting with the record hit Wednesday. Precious metals are getting that panic bid again, as tensions flare across two continents.

In Venezuela, the US has slapped a blockade on oil tankers and escalated pressure on President Nicolás Maduro, pushing energy traders to the edge.

Meanwhile in Nigeria, President Donald Trump announced a “powerful and deadly strike” against a terrorist group, posting about it directly on social media. The result? Safe-haven demand is back, big time.