12:34 - 29.12.2025

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December 29, Fineko/abc.az. On Monday, December 29, silver prices exceeded $82 per ounce for the first time in history, according to trading data. ABC.AZ reports that as of 10:15 a.m. (Baku time), the exchange value of silver is about $78 per ounce.

According to Bloomberg, the sharp rise in prices for the precious metal on that day was provoked by a comment by American billionaire Elon Musk on Chinese export restrictions.

"It's not good. Silver is essential in many industrial processes," Musk said.

In addition, speculative purchases and the continuing imbalance of supply and demand are an additional driver of silver's growth.

Meanwhile, gold prices continue to trade above $4,500 per ounce. Since the beginning of the year, the growth in the value of the precious metal has been 72%.