Silver recorded a historic late December breakout after rallying from around fifty dollars an ounce to above eighty three dollars.
The precious metal later pulled back slightly as traders locked in profits following the surge.
Spot silver was trading near seventy six dollars after retreating from an intraday peak of eighty three point six two dollars.
Silver has gained roughly one hundred eighty one percent year to date in twenty twenty five.
Analysts attributed the rally to expectations of looser United States monetary policy next year.
Strong industrial demand and investor interest also contributed to the move.
Persistent supply shortfalls have tightened the silver market further.
Silver’s designation as a United States critical mineral added a policy driven supply narrative.
The silver breakout has drawn comparisons within the cryptocurrency market.
Analyst Cantonese Cat shared a visual comparison linking silver’s recent structure to Dogecoin’s longer term chart.
The comparison suggests Dogecoin’s six month chart resembles silver’s three day pattern from weeks earlier.
The analyst framed a large Dogecoin sell off candle as a potential cyclical bottom.