Silver, gold, and Bitcoin have all been thrust into the global financial spotlight as 2025 draws to a close, with each asset experiencing dramatic price swings and capturing the attention of investors, policymakers, and industry leaders worldwide. December 29, 2025, in particular, marked a day of exceptional volatility and record-breaking moves, as silver surged to new heights before a rapid pullback, gold hovered near its all-time highs, and Bitcoin staged a powerful rally that saw billions of dollars change hands in a matter of hours.
Silver’s rollercoaster ride was perhaps the most eye-catching. According to Bloomberg, the white metal extended its record-breaking rally to a sixth consecutive session, reaching a lifetime high of ₹2,54,174 per kilogram on the Multi Commodity Exchange (MCX) for March delivery. This surge was mirrored in global markets, where silver briefly topped US$80 per ounce over the weekend. Yet, just as quickly as it soared, silver prices fell to an intraday low of ₹2,33,120 per kilogram, as investors rushed to lock in gains and trading volumes spiked. Over the past week alone, silver had jumped by ₹31,348, marking a 15.04% gain on the commodities bourse, as reported by local financial outlets.
What’s behind this unprecedented volatility? The answer lies in a confluence of supply, demand, and policy risks. China, which controls an estimated 60–70% of the world’s silver supply, is poised to restrict exports beginning January 2026, according to CoinPedia and Meyka. This looming policy change has sent shockwaves through the market, as traders and industrial users brace for potential shortages. The physical inventories of silver are rapidly shrinking across major exchanges in COMEX, London, and Shanghai, driving up premiums and exposing a genuine supply crunch. Silver has already faced five consecutive years of structural deficit, with demand consistently outstripping supply.
Industrial demand is only accelerating, fueled by the booming sectors of solar energy, electric vehicles (EVs), and electronics. As CoinPedia notes, “industrial demand from solar, EVs, and electronics is accelerating, causing a genuine supply squeeze rather than speculation.” This dual role—as both an industrial metal and a safe-haven asset—has made silver uniquely sensitive to shifts in risk sentiment and manufacturing data. The spike in silver prices even prompted a warning from Elon Musk, who highlighted the cost pressures facing EVs, solar, and data centers if silver input costs remain elevated. According to The Guardian, Musk’s concerns underscore the risks that high silver prices pose to project budgets and timelines, especially for battery factories and data infrastructure builds.
Rate-cut expectations and a softer global growth outlook have also contributed to the rally in precious metals. As Meyka reports, “rate-cut expectations, a softer growth pulse, and geopolitical unease supported haven demand.” At the same time, the US dollar’s movements have played a crucial role, with a weaker greenback typically boosting dollar-denominated metals like silver and gold. Yet, after the dramatic spike above US$80, many short-dated longs cashed out, systematic funds reduced exposure, and dealers raised margins, leading to a swift reversal in prices. Thin holiday liquidity only amplified these swings, leaving many investors on edge as they await formal guidance from Chinese authorities about the scope and timing of export restrictions.
For Australian investors, the silver surge has had a pronounced impact. As Meyka points out, “global benchmarks quote in USD, so silver price today on Australian platforms reflects real-time FX.” Wide spreads, sector impacts, and policy risks loom large into the new year, with procurement, hedging, and project margins all affected by the metal’s volatility. Australian producers may benefit from higher USD prices, but their margins can be squeezed by domestic currency moves, energy costs, and royalty payments. The Elon Musk warning has also resonated locally, with energy transition plans and infrastructure projects potentially facing tighter budgets if silver prices remain elevated.
Gold, meanwhile, has remained close to its own record levels. On December 29, 2025, MCX gold futures for February delivery traded at ₹1,40,230 per 10 grams, not far from the all-time high of ₹1,40,465 per 10 grams set just days earlier. Overseas, gold futures opened higher but pulled back to $4,536.80 per ounce, a 0.35% dip attributed to profit-taking after last week’s rally. City-wise, gold prices in India hovered near peak levels, with 22K gold ranging from ₹12,990 to ₹13,020 per gram and 24K gold between ₹14,171 and ₹14,204 per gram across major cities like Ahmedabad, Chennai, Delhi, and Mumbai.
Silver prices in these cities mirrored the national trend, with Ahmedabad, Bengaluru, Delhi, Jaipur, Kolkata, Lucknow, and Mumbai all listing silver at ₹2,58,000 per kilogram, while Chennai and Hyderabad quoted even higher rates at ₹2,81,000 per kilogram. The rapid price movements have left both retail and institutional investors scrambling to manage risk, reassess positions, and monitor policy signals from China and other key players.
Against this backdrop of metals market drama, Bitcoin made headlines of its own. On December 29, 2025, Bitcoin surged $2,600 in just four hours, triggering over $102 million in short liquidations and propelling total crypto market capitalization up by $80 billion to reclaim the $3 trillion mark, according to CoinPedia. This rally came as gold and silver prices dipped, leading some market watchers to speculate that capital may be rotating from traditional safe-haven assets into digital ones, perhaps signaling a renewed risk-on phase for cryptocurrencies.
Technical analysis added fuel to Bitcoin’s bullish narrative. December’s monthly close was on track to print a “dragonfly doji,” a classic bullish reversal signal that suggests strong dip-buying pressure after recent weakness. Bitcoin continued to trade above its 21-month exponential moving average (EMA), a level that has acted as solid support throughout two months of correction, keeping the broader uptrend intact. As CoinPedia observed, “the absence of a sharp breakdown is itself a positive signal, with expectations building around upcoming headlines that could propel BTC toward new all-time highs.”
Looking ahead, the interplay between policy decisions in China, global economic data, and shifting investor sentiment will likely determine the next moves for silver, gold, and Bitcoin. Investors are advised by Meyka to “watch for official policy announcements, inventory data, refinery utilization, global PMIs, US economic data, and China credit impulses for demand momentum.” Volatility is expected to remain high until there is greater clarity on export restrictions and demand trends, so risk management and diversification are key for those navigating these turbulent markets.
As the year ends, the world’s oldest and newest stores of value are moving in unpredictable ways, driven by everything from geopolitical policy to the latest tweets. For now, only one thing is certain: the eyes of the financial world remain fixed on silver, gold, and Bitcoin as 2026 approaches.
