(Reuters) - Spot silver climbed to $75 an ounce on Friday, supported by robust industrial and investment demand, tightening inventories, geopolitical tensions and expectations of further U.S. interest rate cuts.
Silver prices rose 3.5% to $74.46 per ounce by 0229 GMT, after touching an all-time high of $75.14 earlier in the session.
Meanwhile, Asian stocks rose to their highest in six weeks on Friday and a blistering rally in precious metals showed no signs of tempering as investors sought to close out the year on a high while a softer yen kept intervention risk in the fray.
Markets in Australia, Hong Kong and most of Europe are closed on Friday, with liquidity expected to be thin. Still, investors are attempting a year-end rally, with risk appetite perking up this week.
Japan's Topix climbed to a record high and was last up 0.5%. South Korea's benchmark index KS11 rose 0.6%, taking its annual gain to 72% and making it the best-performing major stock market in the world this year.
China's blue-chip stock index CSI300 was 0.27% higher, on pace to clock an 18% gain for the year, its strongest annual surge since 2020.