Spot prices for silver, platinum, and palladium fell sharply on December 30, capping a volatile end to what has been a record-breaking year for precious metals as investors booked profits following an extraordinary rally.
Silver fell more than 3% to $73.66 per ounce on December 30, according to MarketScreener, after briefly touching an all-time high of $83.62 earlier in the week. Platinum dropped 12% to $1,932.55 per ounce, while palladium declined over 7% to $1,497.75 per ounce, Reuters reported. The sharp declines followed successive record highs earlier in the week, with analysts attributing the correction primarily to profit-taking after thin year-end trading conditions amplified price swings.
The Chicago Mercantile Exchange’s decision to raise margin requirements for silver futures to $25,000 per contract—the second such increase in December—likely accelerated silver’s decline. According to multiple market analysts, the higher collateral requirements triggered forced liquidations among leveraged traders. “The severity of silver’s decline may have been amplified by the Chicago Mercantile Exchange’s decision to raise overnight margin requirements,” Kitco News reported.kitco+3
Despite the sharp pullback, precious metals remain on track for their strongest annual performances in decades. Gold steadied around $4,335 per ounce on December 30, according to Bloomberg, and is set to post its largest annual gain since 1979 with a roughly 66% increase. Silver is positioned for its best year ever with gains exceeding 150%, while platinum is up over 110% for the year.bloomberg+3
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Aleda Kawis is the Professional Journalist and serving in the field since 2012. She keeps extensive experience as investigating journalist and media influencer.
