Market Brief
Oil Nears $66 as Gold and Silver Hit Records on Iran Tensions
Oil approaches $66 while gold and silver hit record highs as geopolitical tensions around Iran fuel demand for commodities.
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Oil approaches $66 while gold and silver hit record highs as geopolitical tensions around Iran fuel demand for commodities.
Silver hits a record above $87 an ounce, rallying more than 210% in just 13 months amid supply tightness and strong demand.
Silver breaks above $85 per ounce for the first time as prices rise 19% in 2026 on strong demand and supply constraints.
Silver’s market value climbed to $4.63 trillion, surpassing NVIDIA and ranking second globally behind gold.
OPEC+ confirmed it will suspend oil production increases in the first quarter of 2026 to maintain market stability.
Silver drops roughly 16% to $70 an ounce as profit-taking follows a sharp rally to record highs.
China is tightening control over silver exports from January 1, introducing state licensing requirements as domestic prices surge well above global benchmarks.
Silver prices have surged to a new record above $79 per ounce, drawing attention not only from investors but also from industrial leaders like Elon Musk.
Gold hit $4,500 today, validating Ed Yardeni’s bullish forecast and pushing Wall Street to raise its long-term outlook for the metal heading into 2026.
A routine sale of spare parts unexpectedly revealed real gold, triggering a collector frenzy for a limited batch of old LG air conditioners.
A $10,000 investment in silver made near its 1980 peak would be worth only about $13,000 today, underscoring weak long-term returns.
Oil prices fell about 2% as Iraq restored production at an oilfield supplying roughly 0.5% of global output, while continued Ukraine talks reduced geopolitical risk.