For the first time… silver exceeds $80 in instant transactions

The price of silver exceeded $80 per ounce today, supported by strong demand from the industrial and investment sectors, low inventories, geopolitical tensions, and expectations of an additional reduction in US interest rates.

The price of gold in spot transactions fell 0.1 percent to $4,527.79 per ounce by 11:52 GMT yesterday, Sunday, after recording a new record level of $4,549.71 in the previous session.

US gold futures for February delivery settled at $4,553.10 per ounce.

The price of silver in spot transactions rose 3.8 percent to $82.15 per ounce, after touching its highest level ever at $83.62 earlier in the session.

Silver has achieved gains of 181 percent since the beginning of the year, exceeding the $80 barrier, driven by its classification on the list of critical American metals, limited supply, and low inventories amid rising industrial and investment demand.

As for other currencies, platinum in spot transactions fell 0.8 percent to $2,429.10 after rising to its highest level ever at $2,478.50 earlier in the session, and palladium rose 0.1 percent to $2,003.83 per ounce.