Silver, following gold and platinum, has reached all-time high in the international market on Friday amid rising political tensions.
Spot silver increased 3.6% to $74.56 per ounce, after touching an all-time high of $75.14.
Silver has surged 158% so far this year, far outperforming gold’s roughly 72% rise, driven by persistent supply shortfalls, its designation as a critical mineral in the United States, and strong industrial consumption.
As markets increasingly factor in two US interest rate cuts next year, bullion prices are expected to stay well supported, with low yields enhancing the appeal of non-interest-bearing assets such as gold.
In the domestic market, silver prices in Pakistan jumped by Rs240 to Rs7,945 per tola.
Internationally, spot gold advanced 0.6% to $4,504.79 per ounce at 0423 GMT, after briefly hitting a record high of $4,530.60. US gold futures for February delivery rose 0.7% to $4,535.20.
Gold has enjoyed a powerful rally this year, marking its strongest annual performance since 1979, underpinned by expectations of Federal Reserve easing, heightened geopolitical risks, sustained central bank buying, increased ETF inflows, and ongoing de-dollarization trends.
Other precious metals also posted sharp gains, with spot platinum climbing 7.8% to $2,393.40 per ounce after touching an all-time high of $2,429.98, while palladium rose 5.2% to $1,771.14, extending momentum after reaching a three-year high in the previous session.
