Global metals are ending the year with powerful momentum, with silver, copper and gold all testing or approaching record highs. Peter McGuire, CEO of Trading.com, expects this rally to continue through the rest of December as the US dollar weakens and retail as well as institutional demand stays strong.

Silver has climbed to around $64 per ounce, surprising even bullish traders. McGuire had earlier expected the metal to settle in the $60-65 range this year, but momentum has now accelerated sharply.

According to him, the rally is being fuelled by a mix of short covering, strong retail demand, and years of underinvestment in the metal. He said, “It’s been bid up strongly… the overall appetite is just very, very strong.”

With only a few weeks left in the year, McGuire now believes silver c

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