NEW YORK – The price of silver has hit a multi-decade high as investors kept flocking to safe havens amid geopolitical and economic uncertainty, while gold eased off a record run.
Silver touched US $51.24 an ounce on Oct 9 – the highest in more than four decades. Silver’s surge lifted prices by more than 70 per cent in 2025, outperforming gold’s year-to-date 50 per cent rise.
On Oct 10, spot silver had retreated slightly and was trading around US$49.70 per ounce. Spot gold was trading around US$3,976.
As for gold. technical indicators show the precious metal has been trading in overbought territory for the past month, likely leading to some profit-taking by investors following a scorching four-day run.
While gold is traditionally viewed as a hedge against riskier assets like stocks, it often falls during broad market sell-offs as investors sell their holdings to cover losses in other markets.
The rally among the two key precious metals is part of a growing search for haven assets sparked by fears of fiscal risks in the United States, an overheating stock market and threats to the Federal Reserve’s independence.
Silver often moves in tandem with gold, sharing its strong negative correlation with the US dollar and Fed interest rates. But the metal is also notoriously volatile, and has a cult following among retail investors who view silver prices as being suppressed by large banks and institutions. BLOOMBERG
Commodity marketInvestmentGeopolitics