On Monday, December 30th, gold retreated from record highs, and silver also pulled back following recent gains, as investors booked profits. Easing geopolitical tensions likely reduced the demand for safe-haven assets.
Spot gold dropped 1.7% to $4455.34 per ounce after reaching a record peak of $4550 on Friday. U.S. gold futures for February delivery fell 1.2%, settling at $4500.30 an ounce. Spot silver declined 4.6% to $75.47 per ounce after briefly trading at $83.62.
Notably, interest in silver is shifting towards tokenized markets. RWA.xyz data indicates that the monthly transfer volume for the tokenized version of iShares Silver Trust (SLV) has multiplied over twelve times, accompanied by a 300% surge in the number of holders and a 40% increase in net asset value.
Tokenized silver permits investors, including non-U.S. citizens, to trade digital tokens representing SLV around the clock.
Since the beginning of the year, silver has appreciated by 181%, surpassing gold, which grew by 72% over the same duration. Traders anticipate further reductions in U.S. interest rates next year, while analysts observe that gold and silver remain sensitive to economic and political shifts.
Some experts pointed out that short-term turbulence is caused by low liquidity during the holiday season, with long-term outlooks remaining favorable.
About the Author
