Silver price breaks historical record

December silver futures reached an all-time high on the COMEX exchange, surpassing $50 per troy ounce (31 grams).

Trading data indicates silver gained nearly 6% to hit $50.07 before moderating to $49.82 by 4:00 PM Moscow time.

Meanwhile, December gold futures on the exchange are currently trading at $4,097.

Let us remind you that in early December, the price of a troy ounce of gold exceeded $4,000 for the first time in history. According to expert Alexander Abramov, precious metals are rising in price amid a shift in central banks' efforts to shed their dependence on the dollar.