The price of silver stabilized. It was previously the biggest one-day decline in more than five years, as traders settled profits after a round of strong gains at the end of the year. The price of silver remained above $71 per ounce on Tuesday, falling 9% on the previous trading day; the price of gold was basically flat at around US$4,340 per ounce and fell 4.4% on the previous trading day. Prior to the sharp decline in precious metals, technical indicators showed that the recent rise had been too fast, while insufficient market liquidity increased price fluctuations. Despite Monday's decline, gold and silver are poised to record their biggest annual gains since 1979. Major purchases by central banks, capital inflows from exchange-traded funds, and three consecutive interest rate cuts by the Federal Reserve all supported precious metals prices. Interest rates are falling, which is beneficial to non-yielding commodities. Up to now, spot silver has risen 0.2% to $72.28 an ounce, after hitting a record high of $84.01 on the previous trading day. Gold rose slightly by 0.15% to $4339 an ounce.

The price of silver stabilized. It was previously the biggest one-day decline in more than five years, as traders settled profits after a round of strong gains at the end of the year. The price of silver remained above $71 per ounce on Tuesday, falling 9% on the previous trading day; the price of gold was basically flat at around US$4,340 per ounce and fell 4.4% on the previous trading day. Prior to the sharp decline in precious metals, technical indicators showed that the recent rise had been too fast, while insufficient market liquidity increased price fluctuations. Despite Monday's decline, gold and silver are poised to record their biggest annual gains since 1979. Major purchases by central banks, capital inflows from exchange-traded funds, and three consecutive interest rate cuts by the Federal Reserve all supported precious metals prices. Interest rates are falling, which is beneficial to non-yielding commodities. Up to now, spot silver has risen 0.2% to $72.28 an ounce, after hitting a record high of $84.01 on the previous trading day. Gold rose slightly by 0.15% to $4339 an ounce.