By Jonas Daveikis, LRT.lt.

With silver prices climbing towards historic highs, a company trading in the metal says Lithuanians are buying it even by the kilogramme.

At the start of 2025, an ounce of silver (31.1 grammes) cost about 30 US dollars. By December 29, the metal had almost tripled in price, reaching record levels of nearly $ 82 an ounce.

However, prices that rise quickly can also fall fast. By 11:00 on December 30, silver had dropped by about 10% from the previous day’s peak, with the price slipping to around 74 US dollars an ounce.

Swedbank investment strategist Vytenis Šimkus says the rise in silver prices is partly linked to growing industrial demand.

Thanks to its excellent conductivity, silver is used in solar panels and electronics, including microchips and electric vehicles.

Read more: LRT.LT