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Silver Price Explodes to $84 as Gold Rallies and Bitcoin Remains Flat
Silver Price – The precious metals market is experiencing a dramatic upswing, with silver prices stealing the spotlight after surging to fresh all-time highs over the weekend. The rally comes as gold also trades near record levels, while Bitcoin and the broader crypto market remain largely flat.
Silver Trades Like Crypto Amid Extreme Swings
Silver displayed unusually sharp price movements, behaving more like a cryptocurrency than a traditional safe-haven asset. On Sunday, the metal briefly touched an all-time high near $84, according to market data highlighted by The Kobeissi Letter. Within a short window after futures markets opened, silver jumped 6% to about $83.75, only to plunge 10% to roughly $75.15 within just over an hour.
Such volatility is uncommon for precious metals, though silver is historically more volatile than gold. Still, the speed and magnitude of the moves caught traders’ attention, drawing comparisons to Bitcoin-style price action.
Gold Rallies on Rate Cut Expectations
Alongside silver, gold demand continues to rise, pushing prices to around $4,530. A key driver behind the precious metals boom is growing speculation around US interest rate cuts, especially with a new Federal Reserve chair expected to replace Jerome Powell in 2026.
Markets are anticipating a less hawkish, more Trump-aligned Fed leadership, which could favor lower interest rates. Reduced yields on bonds often encourage investors to rotate into commodities like gold and silver. Silver is further supported by its industrial applications and its role in the so-called “debasement trade,” reflecting long-term concerns over US dollar confidence amid monetary inflation.
Bitcoin Yet to Catch a Bid
Despite benefiting from similar macro narratives, Bitcoin (BTC) has yet to join the rally. The crypto market has remained sluggish throughout December, with BTC down 0.5% over the past 30 days, trading near $90,160, according to CoinGecko data.
After hitting an all-time high of $120,000 in early October, Bitcoin now requires a 6.5% gain to finish the year in positive territory—highlighting a growing divergence between precious metals and crypto markets as 2025 approaches.
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