Silver just smashed through $66 per ounce during Asian trading on December 17, 2025, hitting an all-time high and leaving its previous record of $64.66 in the dust.
Silver obliterated resistance at $66 per ounce, crushing its previous all-time high of $64.66 during overnight Asian trading.
The shiny metal climbed to $65.84 per troy ounce, up 0.68% from the day before, and honestly, the momentum is getting wild.
Over the past month alone, silver surged 29.87%.
Year-over-year? Try 124.58%. Yeah, you read that right.
Meanwhile, platinum decided to join the party.
XPT/USD broke through its 2011 highs, a level many traders thought might take forever to reclaim.
The last time platinum hit these heights was during that legendary bull market over a decade ago.
Now it's back, fueled by industrial demand and investors scrambling for safe-haven assets.
What's driving this madness?
The US economy is showing cracks.
Unemployment jumped to 4.6%, the highest since 2021.
October retail sales came in flat when analysts expected at least 0.1% growth.
The Flash S&P Global PMI dropped to 53.0 from 54.2 in November.
Not exactly the picture of economic strength.
These weak numbers have traders betting big on Federal Reserve rate cuts.
CME FedWatch shows a 67.6% chance of at least two cuts in 2026, way more aggressive than the single cut the Fed projected at its December meeting.
Lower rates make precious metals more attractive since they don't pay interest anyway.
When central banks cut rates, it typically weakens the domestic currency, which in turn makes dollar-denominated commodities like silver and platinum more appealing to international buyers.
The technical picture for silver looks stretched but still bullish.
Trading at $66.00, it's sitting 3% above its 20-period exponential moving average of $63.28.
The RSI hit 69.16, dangerously close to overbought territory.
If silver holds above that rising EMA, $70.00 could be next.
Break below, and $60.00 becomes the target.
History warns that these parabolic runs don't last forever.
Silver crashed hard after 1980 and 2011.
This rally mirrors those overextended patterns, and anyone who's been around long enough knows how these stories end.
But for now? The precious metals party continues, recession fears and all.
Traders holding positions overnight should note that interest rate differentials between currency pairs can significantly impact the cost of maintaining leveraged positions in these volatile conditions.
These extreme price swings reflect the market factors that typically drive forex and commodity volatility during periods of economic uncertainty.
