Silver prices experienced a sharp decline on Monday, falling from a record high above $80 per ounce. This pullback followed profit-taking by investors and a reduction in geopolitical tensions, which typically boosts demand for safe-haven assets. Spot silver slid significantly, retreating from its all-time peak. Other precious metals, including gold, platinum, and palladium, also saw losses, mirroring the trend in silver. Analysts attribute the sell-off primarily to traders booking profits ahead of the year-end and a more optimistic outlook on peace talks.