Silver slid more than 3% toward $76 per ounce on Monday, pressured by profit-taking after an end-of-year rally that notched a fresh record of $81. Investors are also weighing geopolitical developments, following President Donald Trump’s comments that peace talks with Ukrainian President Volodymyr Zelenskiy have made “a lot of progress,” though a deal may still take weeks. He added he is open to addressing Ukraine’s parliament, holding trilateral talks with Zelenskiy and Russian President Vladimir Putin, and meeting European leaders in January. Despite the retreat, silver is on track for roughly a 166% gain in 2025, supported by speculative inflows, lingering supply disruptions following an October short squeeze, central-bank buying, ETF inflows, and US rate cuts, with markets increasingly pricing in further easing in 2026.