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  • The Pittsburgh Steelers lost to the Buffalo Bills 26-7, dropping their season record to 6-6.
  • Quarterback Aaron Rodgers was briefly knocked out of the game after a hit that caused a fumble returned for a touchdown.
  • The Bills rushed for 249 yards, controlling the game’s tempo against a collapsing Steelers defense.
  • Pittsburgh’s offense was shut out in the second half, and a critical fourth-down run play in the red zone failed.

PITTSBURGH – Getting Aaron Rodgers back in the lineup on Sunday was hardly an elixir for the sinking Pittsburgh Steelers.

Instead, it got even worse for Pittsburgh and its aging quarterback.

Rodgers, playing with a fractured left wrist, was briefly knocked out of the 26-7 loss against the Buffalo Bills – CBS reported that he was treated for a gash on his nose – after absorbing a crushing blow from Joey Bosa on the opening drive of the third quarter that pretty much symbolized the woes for the Steelers.

No doubt, the momentum of the game shifted immediately. Rodgers fumbled on the blindside hit, which was returned 17 yards for a touchdown by Christian Benford that put the Bills ahead – for good.

Rodgers, 41, lay flat on his back, dazed, and was ultimately helped to the turf. After missing the previous week’s loss at Chicago, and with his team clinging to first place in the AFC North, it was not the jolt the Steelers wanted from the once dominant quarterback.

Good news: Rodgers missed just one series before returning to the game.

Bad news: Rodgers’ replacement, Mason Rudolph, threw an interception to end his only drive – Benford picked off a throw along the sideline that sailed over tight end Darnell Washington’s head – to set up another Buffalo touchdown.

And never mind the super-hero stuff. At least not from Rodgers.

His team is now 6-6, heading into another “showdown” next weekend at Baltimore. A few weeks ago, the Steelers had a seemingly commanding grip on the division lead.

Now, the Steelers, shut out in the second half, are showing signs of another late-season collapse. Not only was the offense so feeble, the defense collapsed, too.

Bills, and then Steelers, take ball out of Aaron Rodgers’ hands

The Bills (8-4) rushed for 249 yards – more than any opponent ever at Acrisure Stadium – to control the tempo, flow, momentum and then some. James Cook ran for 144 yards and Josh Allen, as usual, chipped in with some clutch runs, finishing off one drive with a 8-yard TD on fourth down.

Although Rodgers ignited a fourth-quarter drive that advanced to the red zone, it, too, fizzled when push came to shove. Pittsburgh went for it on fourth-and-two from the 7-yard line and rather than wing it with Rodgers, tried to convert with a draw play to running back Kenneth Gainwell. Bad move. Gainwell was stuffed for a 2-yard loss.

That the Steelers took the football out of Rodgers’ hands – not even at least attempting a pass by Rodgers in that critical situation – may have illustrated just how distinctive this fade is for one of the game’s greatest quarterbacks as he tries to make another last-gasp run at glory.

Meanwhile, Allen, Buffalo’s reigning NFL MVP, served yet another reminder of what an elite quarterback looks like – and does when it matters the most.

He put the team on his back again. Like Rodgers used to do.

Contact Jarrett Bell at jbell@usatoday.com or follow on  X: @JarrettBell

This post appeared first on USA TODAY

The WNBA and its players’ union extended their collective bargaining agreement for a second time, with the deadline to reach a settlement pushed back by six weeks.

Both sides had until 11:59 ET on Sunday, Nov. 30 to reach a deal, or the collective bargaining agreement would have expired.

“The WNBA and WNBPA have agreed to extend the current collective bargaining agreement through January 9, 2026, with either party having the option to terminate the extension with 48 hours’ advance notice. The WNBA and WNBPA are continuing to work toward a new agreement,’ the league said in a statement.

The original expiration of the league’s CBA was Oct. 31, and the league quickly realized that no agreement would be reached by that date; thus, the first extension was put into place.

Had a lockout occurred, no league business would have commenced, including the expansion draft, which hasn’t been set, as two new teams, the Portland Fire and Toronto Tempo, launch their inaugural seasons in 2026.

The league presented a formal proposal last week, stating that max salaries would exceed $1 million and that the minimum salary would be around $220,000. The WNBA salary cap was $1.5 million, and players have been vocal about wanting a bigger piece of the pie, especially since the league’s new 11-year media rights deal, valued at approximately $2.2 billion, begins in 2026.

Last season, the minimum salary was $66,079, while the supermax was worth $249,244. Only five WNBA players made more than $225,000 last season. (Kelsey Mitchell, $269,244; Arike Ogunbowale $249,032; Jewell Loyd, $249,032; Kahleah Copper, $248,134; and Gabby Williams, $225,000)

League MVP A’ja Wilson made $200,000 in base salary in 2025.

This post appeared first on USA TODAY

Survive and advance, a Denver Broncos story.

If there were one thing that defined the 2025 Broncos, it would be that. They are not easy on the eye. They don’t produce endless highlights on offense. They don’t blow teams out. They don’t play a consistent brand of football on offense.

They just win.

Sean Payton’s team has found a way all season long. On “Sunday Night Football” in Week 13, they found their 10th victory and a ninth in a row, defeating the Washington Commanders, 27-26.

Bo Nix didn’t dazzle, but he shined when it mattered most. His opposite number, Marcus Mariota, did whatever he could to drag the home team to a victory for the first time in seven tries, but the magic ran out in overtime.

The Broncos defense has battled all year, and now they have Denver in the AFC’s top spot – at least temporarily, following the Sunday action in Week 13.

For a game that lacked plenty of juice early on, this contest turned into a thriller that gave fans a little bit of everything.

Here’s a look at how it all unfolded between the Broncos and Commanders.

USA TODAY Sports provided updates, analysis and highlights from the Week 13 ‘Sunday Night Football’ matchup below. All times are Eastern.

Commanders vs. Broncos SNF takeaways

  • The Broncos will go as far as the defense takes them: It’s a team that continues to defy logic. In an era dominated by offense, Denver is classic zig to every other team’s zag. It clearly works in the regular season. Even though you can argue that the Broncos aren’t deserving of their 10-2 record, they still have it. The real question is whether they can sustain this in the postseason. Home-field advantage feels like it would be more important for Denver than other teams, but it remains to be seen if the offense can do enough when it matters most.
  • Dan Quinn has given the Commanders the blueprint: It would’ve been easy to pack things up at 3-8, having lost six in a row. Quinn’s team didn’t fold and the head coach should be proud of that. His defensive changes have helped Washington find something in the latter part of the season, potentially providing a blueprint for the team to follow this offseason. An infusion of younger talent and health could go a long way toward making this disappointing season an exception rather than the rule.
  • Bo Nix’s inconsistencies are a problem: Aside from his heroics in two-minute situations tonight, it has been a rough season for the second-year quarterback. His interception to Bobby Wagner was evidence of that. Without a great running game, Denver’s offense has no choice but to trust the quarterback’s arm. In a playoff game where the margins are so small, that will be an uneasy feeling if this level of play continues.
  • Some things are bigger than football: This contest put a bow on Thanksgiving weekend and it’s hard to think that the biggest story is something other than Alex Singleton. There is plenty of time to talk about playoff and draft scenarios, but Singleton’s case was one of life and death. Regardless of the result, it’s impossible not to be happy for the linebacker, who made his return in Week 13 after surgery and treatment for testicular cancer.

Bo Nix stats vs. Commanders

  • 29-of-45 (64.4% completion rate)
  • 321 passing yards
  • 1 passing touchdown
  • 1 interception
  • 83.7 passer rating
  • 2 rushing attempts
  • 16 rushing yards
  • 0 rushing touchdowns

Marcus Mariota stats vs. Broncos

  • 28-of-50 (56% completion rate)
  • 294 passing yards
  • 2 passing touchdowns
  • 1 interception
  • 78.2 passer rating
  • 10 rushing attempts
  • 55 rushing yards
  • 0 rushing touchdowns

R.J. Harvey stats vs. Commanders

  • 13 rushing attempts
  • 35 rushing yards
  • 2 rushing touchdowns
  • 3 reception (4 targets)
  • 27 receiving yards
  • 0 receiving touchdowns

Terry McLaurin stats vs. Broncos

  • 7 receptions (14 targets)
  • 96 receiving yards
  • 1 receiving touchdown

Commanders vs. Broncos highlights

Commanders vs. Broncos final score: Broncos 27, Commanders 26

Nik Bonitto swats down Mariota’s pass on two-point try

Bonitto swats down the pass, and the Broncos hold on for the win in overtime.

Commanders vs. Broncos score update: Terry McLaurin TD, but two-point try falls short

Mariota magic continued into overtime, but the clock struck midnight on the Commanders – literally and figuratively. McLaurin’s touchdown is all for naught as Mariota’s pass on the two-point try is rejected by Nik Bonitto. Denver hangs on for its ninth straight victory, while Washington drops its seventh straight.

Broncos 27, Commanders 26

Deebo Samuel catch gets Washington to the goal line

On the very next play, Mariota finds Samuel – who gets the Commanders to the doorstep of the end zone. They’ll have four chances to tie or win the game.

Josh Conerly Jr. holding penalty erases Terry McLaurin TD

Mariota thought he had McLaurin for the potential game-tying score, but the referees had other ideas. Conerly is flagged for holding, backing Washington up again.

Commanders vs. Broncos score update: RJ Harvey TD for the lead in OT

Well, that was quick. The Broncos’ offense has come alive in overtime to retake the lead. Harvey gets his second touchdown of the night to cap off the five-play, 76-yard drive. Evan Engram had the big play, a 41-yard catch-and-run to set it up. Now Mariota and the offense will try to answer, needing a touchdown to avoid a seventh-straight loss.

Broncos 27, Commanders 20

NFL overtime rules

In the regular season, NFL games tied after four quarters of regulation will enter a 10-minute overtime period. OT begins with a coin toss to determine who gets the ball first. Each team will have the opportunity to possess the ball, even if the team that gets the ball first scores a touchdown on the opening possession.

  • There are no coach challenges; all reviews will be initiated by the replay official.
  • Each team gets two timeouts.
  • The point after try is not attempted if the game ends on a touchdown.
  • If the score is still tied at the end of the overtime period, the result of the game will be recorded as a tie.

Overtime in Washington

Marcus Mariota engineered the game-tying drive despite a pair of penalties that backed the Washington offense up. In the end, it’s a 32-yard field goal from Jake Moody, who sends us to the extra session.

It’ll be Denver ball to start.

Commanders getting one last chance

Washington needed another stop and got one. With three minutes to go, time is running out for the home team that continues to trail by three. Marcus Mariota has one timeout to try and engineer a game-tying or game-winning drive.

Commanders get the stop, looking to tie or take the lead

A couple of uneventful possessions have come and gone, but the Commanders got a key stop with under five minutes left. The Commanders have the ball and are down by three with 4:42 to go. 

Commanders vs. Broncos score update: Washington cashes in on Nix turnover

It’s not a touchdown, but the home team will take free points anyway they can get them. Washington turned the Nix interception into three points from Jake Moody, who knocked through the 38-yard field goal. With just over 12 minutes left in the contest, the deficit is now three for the Commanders.

Broncos 20, Commanders 17

Bo Nix intercepted by Bobby Wagner

Bobby Wagner isn’t wearing an orange-colored jersey tonight, but he must’ve been on that play. The linebacker came up with one of the easiest interceptions he’ll ever have after Nix tossed it right to him. Playing catch in the yard and playing on “Sunday Night Football” are suddenly more similar than we previously thought. 

End of third quarter: Broncos lead with 15 to go

Someone turned on the scoring in the third quarter as an eventful 15 minutes comes to a close. Now Denver will look to hang on for its 10th win.

Commanders vs. Broncos score update: Denver responds quickly with R.J. Harvey TD

While Treylon Burks’ catch was the talk of the town in the nation’s capital, the Broncos went right back to work and responded with a touchdown of their own. Denver needed just three minutes and 59 seconds to drive 72 yards and find paydirt for the second time tonight. Rookie running back R.J. Harvey plunged into the endzone from one yard out to put Denver ahead again.

Broncos 20, Commanders 14

Treylon Burks one-handed touchdown catch

Here’s another look at the impressive touchdown reception by Burks:

Commanders vs. Broncos score update: Treylon Burks makes highlight reel TD grab

Washington opens the second half with an impressive 10-play, 72-yard scoring drive, which was capped off by a catch of the year candidate by Treylon Burks. He made one of the most ridiculous touchdown catches over Broncos corner Riley Moss. It mirrored the grab Odell Beckham Jr made on ‘Sunday Night Football’ in 2014.

Washington now leads after Jake Moody knocks through the extra point.

Commanders 14, Broncos 13

Halftime score for ‘Monday Night Football’: Broncos lead at the break

Broncos 13, Commanders 7

We have a tight one at the half, with the Broncos taking their seven-point advantage to the locker room. Denver certainly has the momentum now, but Washington put up a good fight in the first 30 minutes.

There is no halftime entertainment for this contest, so “Sunday Night Football” will return after its regular recess. 

Commanders vs. Broncos score update: Courtland Sutton TD answers before halftime

It’s amazing what a little urgency can do. Much like an 11:59 p.m. deadline for a homework assignment, the Broncos were up against the halftime deadline and knew it was time to kick it into high gear. Denver flew down the field, taking the lead right back after Sutton hauled in the 11-yard score. Bo Nix looked more comfortable on that drive. We’ll see if that translates to the second half.

Broncos 13, Commanders 7

Commanders vs. Broncos score update: Chris Rodriguez Jr. puts Washington in front

We have a touchdown. The Commanders march down the field to take the lead before the two-minute warning. Washington nearly had to settle for a field goal, but Denver’s Nik Bonitto helped the home team with an unnecessary roughness penalty. Rodriguez punched it in on the next play, capping off the 72-yard scoring drive. It’s Washington seven to Lutz’s six with halftime looming.

Commanders 7, Broncos 6

Commanders vs. Broncos score update: Lutz adds three more

What’s better than one 33-yard field goal? Two.

Lutz and the Broncos turn the Mariota interception into another field goal, doubling the lead to six. Neither offense is clicking right now, but there is still time for the scoring switch to be flipped on. For now, it’s a field goal fest in the nation’s capital.

Broncos 6, Commanders 0

Marcus Mariota intercepted by Dre Greenlaw

Washington was set up nicely with an opportunity to score. Mariota tried a jump pass while under pressure, tossing the ball blindly into traffic, where Greenlaw was waiting. The Broncos take over after the head-scratching turnover.

End of first quarter: Broncos lead after 15 minutes

If you were waiting all day for some action on Sunday night, we have bad news. There isn’t much happening in this contest, which has been a defensive battle to this point. A fast-paced opening quarter has come close with the Lutz field goal being the only change on the scoreboard.

Washington is set up nicely to begin the second, however. The Commanders have the ball on the edge of the red zone, looking to tie or take the lead.

Commanders vs. Broncos score update: Wil Lutz opens the scoring

The Broncos strike first in this contest with a field goal from Lutz, who converts the 33-yard attempt. It was an 11-play, 59-yard drive that set up the score, but Washington held in the red zone. Now Marcus Mariota and the Commanders’ offense go to work, looking for an answer.

Broncos 3, Commanders 0

Alex Singleton makes return after cancer treatment

If you were looking for some good news in the world on this Sunday night, look no further than the Broncos’ linebacker. It was less than a month ago that Singleton was diagnosed with testicular cancer, which was revealed following a random drug test after the Broncos’ Week 10 win over the Raiders.

The 31-year-old linebacker underwent emergency surgery and now, three weeks later, is making his return to the field having missed only one game. With a new lease on life, Singleton’s story is one that is sure to resonate.  

What channel is Commanders vs Broncos Sunday Night Football on?

  • TV channel: NBC

NBC is the broadcast home of ‘Sunday Night Football.’ Mike Tirico will be on the call alongside Cris Collinsworth. Melissa Stark will provide updates from the sidelines.

Commanders vs Broncos start time

  • Start time: 8:20 p.m. ET | 6:20 p.m. MT

The ‘SNF’ matchup between the Commanders and Broncos will get underway at 8:20 p.m. ET, the customary start time for ‘SNF.’

How to watch, live stream ‘SNF’

  • Live stream:Peacock, NFL+
  • TV channel: NBC

Peacock, NBC’s proprietary streaming service, will broadcast ‘SNF.’

Commanders vs Broncos picks, predictions

Here’s how the expert panel at USA TODAY Sports sees this game shaking out:

  • Jarrett Bell: Broncos, 23-16
  • Nick Brinkerhoff: Broncos, 27-17
  • Chris Bumbaca: Broncos, 27-21
  • Nate Davis: Broncos, 30-17
  • Tyler Dragon: Broncos, 25-17
  • Mike Middlehurst-Schwartz: Broncos, 31-16

Commanders vs Broncos odds, moneyline, O/U

  • Spread: Commanders (-2.5)
  • Moneyline: Commanders (-135), Broncos (+114)
  • Over/Under: 46.5

Commanders inactives vs. Broncos

  • QB Jayden Daniels
  • S Darnell Savage
  • LB Ale Kaho
  • LS Tyler Ott
  • T Trent Scott
  • T George Fant
  • DE Jalyn Holmes

Broncos inactives vs. Commanders

  • TE Nate Adkins
  • OLB Jonah Elliss
  • DL Jordan Jackson
  • DL Sai’Vion Jones
  • OL Geron Christian

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NFC East standings

The Commanders are in third place in the NFC East standings.

  1. Philadelphia Eagles (8-4)
  2. Dallas Cowboys (6-5-1)
  3. Washington Commanders (3-8)
  4. New York Giants (2-10)

Which NFL team has the most Super Bowl wins? 

The Steelers are tied with the New England Patriots for the most Super Bowl wins with six. 

Pittsburgh and Dallas have the unique distinction of playing each other more than any other team combination in Super Bowl history with three matchups. 

J.K. Dobbins injury update

The Broncos’ starting running back was placed on injured reserve on Nov. 15. He suffered a foot injury that requires surgery.

Denver’s head coach Sean Payton left the door open for Dobbins to potentially return for the postseason. “Yes. It wouldn’t be soon, but that (Dobbins) has a chance to happen,” Payton told reporters on Nov. 26.

Commanders vs. Broncos injury report

Oldest players in NFL 2025

  • Aaron Rodgers, QB, Pittsburgh Steelers: 42 years old
  • Nick Folk, K, New York Jets: 41 years old
  • Matt Prater, K, Buffalo Bills: 41 years old
  • Joe Flacco, QB, Cincinnati Bengals: 40 years old
  • Matt Prater, K, Arizona Cardinals: 40 years old
  • Calais Campbell, DL, Arizona Cardinals: 39 years old
  • Morgan Cox, LS, Tennessee Titans: 39 years old
  • J.J. Jansen, LS, Carolina Panthers: 39 years old
  • Thomas Morstead, P, San Francisco 49ers: 39 years old
  • Jon Weeks, LS, San Francisco 49ers: 39 years old

Jayden Daniels injury update

The second-year quarterback participated in the Commanders’ practices all week in a limited capacity, but he has not been cleared for contact. Daniels will miss ‘Sunday Night Football’ in Week 13, but it’s unclear if he will also miss Week 14’s game against the Vikings in Minnesota.

AFC West standings

The Broncos enter ‘Monday Night Football’ atop the AFC West.

  • Denver Broncos (9-2)
  • Los Angeles Chargers (8-4)
  • Kansas City Chiefs (6-6-)
  • Las Vegas Raiders (2-10)

NFL playoff picture: AFC bracket

Here’s how the AFC shakes out entering ‘Sunday Night Football’ in Week 13:

  1. New England Patriots (10-2; AFC East leaders)
  2. Denver Broncos (9-2; AFC West leaders)
  3. Jacksonville Jaguars (8-4, AFC South leaders)
  4. Baltimore Ravens (6-6; AFC North leaders)
  5. Los Angeles Chargers (8-4, wild card No. 1)
  6. Indianapolis Colts (8-4; wild card No. 2)
  7. Buffalo Bills (8-4, wild card No. 3)

In the hunt: Houston Texans (7-5); Kansas City Chiefs (6-6); Pittsburgh Steelers (6-6); Miami Dolphins (5-7); Cincinnati Bengals (4-8); New York Jets (3-9); Cleveland Browns (3-9)

Eliminated: Las Vegas Raiders (2-10); Tennessee Titans (1-11)

NFL playoff picture: NFC bracket

Here’s how the NFC playoff bracket looks entering ‘Sunday Night Football’ in Week 13:

  1. Chicago Bears (9-3; NFC North leaders)
  2. Los Angeles Rams (9-3; NFC West leaders)
  3. Philadelphia Eagles (8-4; NFC East leaders)
  4. Tampa Bay Buccaneers (7-5; NFC South leaders)
  5. Seattle Seahawks (9-3, wild card No. 1)
  6. Green Bay Packers (8-3-1, wild card No. 2)
  7. San Francisco 49ers (9-4, wild card No. 3)

In the hunt: Detroit Lions (7-5); Dallas Cowboys (6-5-1); Carolina Panthers (7-6); Atlanta Falcons (4-8); Minnesota Vikings (4-8); Washington Commanders (3-8)

Eliminated: Arizona Cardinals (3-9), New Orleans Saints (2-10), New York Giants (2-10)

2026 NFL Draft order

Here’s how next year’s first-round order would shake out entering ‘Sunday Night Football’ in Week 13, according to Tankathon.com:

  1. Tennessee Titans: 1-11 record; .569 strength of schedule
  2. New Orleans Saints: 2-10; .502 SOS
  3. New York Giants: 2-10; .542 SOS
  4. Las Vegas Raiders 2-10; .555 SOS
  5. Cleveland Browns: 3-9; .480 SOS
  6. New York Jets: 3-9; .532 SOS
  7. Arizona Cardinals: 3-9; .565 SOS
  8. Washington Commanders: 3-8; .515 SOS
  9. Atlanta Falcons (pick belongs to Los Angeles Rams): 4-8; .500 SOS
  10. Cincinnati Bengals: 4-8; .520 SOS
  11. Minnesota Vikings: 4-8; .534 SOS
  12. Miami Dolphins: 5-7; .485 SOS
  13. Kansas City Chiefs: 6-6; .500 SOS
  14. Pittsburgh Steelers: 6-6; .500 SOS
  15. Carolina Panthers: 7-6; .512 SOS
  16. Dallas Cowboys: 6-5-1; .458 SOS
  17. Detroit Lions: 7-5; .510 SOS
  18. Houston Texans: 7-5; .539 SOS
  19. Baltimore Ravens: 6-6; .502 SOS
  20. Tampa Bay Buccaneers: 7-5; .502 SOS
  21. Buffalo Bills: 8-4; .468 SOS
  22. Indianapolis Colts (pick belongs to Jets): 8-4; .500 SOS
  23. Philadelphia Eagles: 8-4; .500 SOS
  24. San Francisco 49ers: 9-4; .488 SOS
  25. Los Angeles Chargers: 8-4; .460 SOS
  26. Jacksonville Jaguars (pick belongs to Browns): 8-4; .493 SOS
  27. Green Bay Packers (pick belongs to Cowboys): 8-3-1; .480 SOS
  28. Seattle Seahawks: 9-3; .481 SOS
  29. Los Angeles Rams: 9-3; .517 SOS
  30. Denver Broncos: 9-2; .448 SOS
  31. Chicago Bears: 9-3; .444 SOS
  32. New England Patriots: 10-2; .371 SOS

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The Blue Devils, who have five losses on the season, were sent to the ACC championship game thanks to multiple factors on unfolding on the final day of the 2025 college football regular season. The officially cashed in on their long-shot with SMU’s missed field goal vs. California.

It’s the first trip to the conference championship for Duke under Manny Diaz, and the program’s first trip to the ACC championship game since 2013, when the Blue Devils fell to eventual national champion Florida State 45-7.

The Blue Devils will face No. 17 Virginia (No. 18 in College Football Playoff rankings) at 8 p.m. ET on Saturday, Dec. 6 at Bank of America Stadium in Charlotte, North Carolina, where they will play for a trip to the 12-team CFP.

But on top of getting some help from Cal, how did Duke get into the conference title game when it has five overall losses on the season and went 6-2 in ACC play?

Here’s what to know on how Duke made the ACC championship game:

How did Duke football make ACC championship game?

  • Beat Wake Forest
  • Pitt loss to Miami
  • SMU loss to Cal 

For starters, the Blue Devils entered Week 14 needing to catch breaks — a Pitt loss to Miami and an SMU loss to Cal — on top of winning their own Week 14 game against Wake Forest.

Despite being out-gained on the day, Duke handled business by picking up a 49-32 win over Wake Forest. The Blue Devils turned four turnovers into 14 points in the win, while quarterback Darian Mensah and running backs Nate Sheppard and Anderson Castle all scored two touchdowns each.

Then, before even kicking off at Wallace Wade Stadium, the Blue Devils got some help from No. 13 Miami (No. 12 in CFP, as Carson Beck and Co. defeated No. 24 Pitt (No 22 in CFP), 38-7. There’s leg two of the parlay.

Then came the final leg of the parlay, as SMU fell 38-35 on the road to Cal. Mustangs kicker Sam Keltner missed the 52-yard game-tying field goal attempt as time expired to give Jaron-Keawe Sagapolutele and Cal the upset win over the No. 25 team in the country.

Following all that, the Blue Devils will make the 142-mile drive over to Charlotte from Durham. That gave Duke the tiebreaker because of a higher conference opponent winning percentage than Miami, SMU, Pitt and Georgia Tech.

ACC football standings

  • 1. Virginia (7-1) *
  • T-2. Duke (6-2)
  • T-2. Miami (6-2)
  • T-2. Georgia Tech (6-2)
  • T-2. SMU (6-2)
  • T-2. Pitt (6-2)
  • T-7. Louisville (4-4)
  • T-7. Wake Forest (4-4)
  • T-7. NC State (4-4)
  • T-7. Cal (4-4)
  • T-7. Clemson (4-4)
  • 12. Stanford (3-5)
  • T-13. Florida State (2-6)
  • T-13. Virginia Tech (2-6)
  • T-13. North Carolina (2-6)
  • T-16. Boston College (1-7)
  • T-16. Syracuse (1-7)

* ACC title game participants

This post appeared first on USA TODAY

Klay Thompson turned back the clock with six 3-pointers en route to a season-high 23 points, Cooper Flagg went for a season-best 35 points and the Dallas Mavericks held off the host Los Angeles Clippers, 114-110, on Saturday night.

Resting Anthony Davis on the second night of a back-to-back, the Mavericks trailed 103-101 after a John Collins 3-pointer for the Clippers with 2:22 to go.

But Thompson, playing in his hometown, capped a 17-point final period with a go-ahead 3-pointer with 1:52 remaining, Flagg dropped in three sets of two lead-extending free throws in the last 1:20 and the Mavericks kept the Clippers at arm’s length en route to snapping a three-game losing streak.

In a game in which neither team led by more than 10, the Clippers found themselves down 87-83 after a Thompson 3-pointer in the first minute of the fourth quarter.

The game then became a duel between Thompson and Kawhi Leonard, with Thompson connecting on four 3-pointers among his 17 points in the final 12 minutes, while Leonard countered with a three-point play, a jumper and four additional free throws over the final 10:40.

Thompson’s 20-point night was just his second of the season. He had contributed just 10 points to a 129-119 loss to the Los Angeles Lakers when the Mavericks tipped off a two-night stay in Southern California on Friday.

Flagg’s 35 points were six more than his previous high. The No. 1 overall pick of the 2025 NBA Draft hit 13 of his 22 shots and nine of his 11 free throw attempts while also finding time for a team-high-tying eight rebounds.

Naji Marshall added 18 points, Brandon Williams 14 to go with a team-high seven assists and Dwight Powell six steals to complement nine points and five rebounds for the Mavericks, who reversed an earlier double-overtime home loss to Los Angeles.

Leonard had a team-high 30 points and James Harden 29 for the Clippers, who lost for the second time at home in two nights, having fallen to the Memphis Grizzlies on Friday.

Harden completed a double-double with a game-high 11 assists and eight rebounds, while Ivica Zubac had a double-double of his own with 19 points and a game-high 11 rebounds.

Collins chipped in with 21 points and three blocks for the Clippers, who dropped their fourth straight.

Cooper Flagg highlights vs. Clippers

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ANN ARBOR, MI – You can have your College Football Playoff race, where multiple games that can and will impact the 12-team field played out Saturday all over the nation. They’ll take The Game, thank you. 

You know what’s bigger and better than a nouveau riche playoff? Life and death between Ohio State and Michigan. 

And if you don’t think that’s what this menacingly marvelous piece of Americana is after the Buckeyes mercifully ended five years of misery with a dominating 27-9 win, you’re not watching closely enough. 

‘I’ve thought, as you can imagine over the years, what I’d say in this press conference,’ Ohio State coach Ryan Day said. ‘I’m going to save all those comments, because I think the best thing to do is win with humility.’

Not in this game, not with everything it means and everyone it impacts. So others did it for him.

Like Ohio State players laying on the turf at Michigan Stadium, joyfully spreading snow angles all over the joint. Or the OSU mascot, Brutus Buckeye, using his foot to pen Script Ohio at the south end zone goal line, and scraping an ‘X’ over the ‘M’ in Michigan.

Because not only do they not give a damn about the whole state of Michigan, they refuse to even use the letter M. In any way, shape or form.

‘We ended up clearing out the stadium,’ said Ohio State quarterback Julian Sayin. ‘And had a lot of red in there.’

Forgive the sophomore from Carlsbad, Calif., if he committed a venial sin. It’s scarlet, Julian.

Don’t forget it when you’re picking up that bronze trophy next month in New York City.

‘They had a great look in their eye,’ Day said of his team that had lost four straight to Michigan, and hadn’t won The Game since 2019. ‘I don’t think there was any doubt when we walked into the stadium what was going to happen.’

That statement was utterly laughable before it all played out on a typically snowy and blustery late November in Michigan. The Game is full of doubt ― in the greatest way possible.

Only in The Game can Day look like a battered, bruised and lost puppy one season, and a flawless work hanging in the Louvre a year later.  

Only in The Game, can Michigan do no wrong since 2021, and stumble around for the better part of three quarters like a team and a coaching staff lost in the largest moment of their lives. 

Only in The Game can Ohio State take those years of debilitating discontent, years of having their toughness and manhood questioned, and shove them right down Michigan’s throat.

The Buckeyes played bully ball, using an unrelenting run game in poor conditions, some critical throws from Sayin, and a nasty defense to escape a recurring nightmare that had suffocated the program. 

Late in the third quarter and into the fourth, Ohio State used a masterfully patient and punishingly effective 20-play, 81-yard drive (16 runs) that used 12 minutes of game clock to kick a 23-year field goal and put Michigan to sleep. Finally and fittingly.

That’s really the only way this losing streak could end. The only way Ohio State could reclaim who and what it has been, and now is again. 

Physically leaving no doubt.

Because not even winning the national championship last season — after losing The Game — could soothe the pain of what Michigan has inflicted.

The rout in 2021 that snapped Ohio State’s eight-game winning streak, and gave Michigan coach and alum Jim Harbaugh the only win that mattered in his first seven seasons. Seven.

The rout in 2022 that led to Michigan finally breaking through and reaching the CFP, and made it clear that Ohio State now had a Harbaugh problem. 

The one-possession win in 2023 that gave Michigan the confidence and momentum it needed to win its first national championship since 1997. 

And the three-point win in 2024 that salvaged a five-loss season for first-year Wolverines coach Sherrone Moore, and nearly got Day fired.

Imagine that, a coach who has won 82 of 92 career games in the biggest fishbowl of all in college football, nearly lost it all because he couldn’t beat That Team Up North. Absurd, yes — but that’s The Game, everyone.    

‘To tell you the last four years have been easy is not true.,’ Day said. ‘When you don’t accomplish those things, you take it personally.’ 

Until you’ve experienced it, there’s nothing like Michigan vs. Ohio State, this annual march to the inevitable and pulsating three hours of it means everything. The 365-day buffer doesn’t diminish the hate and hurt, it only magnifies it to unimaginable proportions.

Ohio State not only had 2,190 days between wins (but who’s counting?), the team it despises like no other not only got better over those five years and four losses (they didn’t play during the pandemic season of 2020), but won the whole damn thing in 2023 at the Buckeyes’ expense. 

Then followed that up with a soul-sucking win unlike any other in the history of the series (that’s not hyperbole).

So when Michigan ripped off a long run on the first drive of the game, and led 3-0, and after Sayin threw a bad interception into double coverage and Michigan turned it into a six point lead, all of those gut-punches of the past started bleeding through.

A series later, it all ended with a perfectly thrown 35-yard touchdown pass from Sayin to Jeremiah Smith ― on fourth and five, no less ― and Ohio State never trailed again. In fact, was never really threatened.

‘We had to stay even-keeled,’ Sayin said. ‘We had to keep battling.’  

The shifts of emotion and momentum are so intense in this rivalry, the flaws of execution so scrutinized, every play and every decision falls under the most extreme of fanatically unrelenting microscopes. 

Only in this game can a $12 million quarterback, Michigan freshman Bryce Underwood, look like a dime store replacement (8-of-18, 63 yards, INT).

Only in this game can a Cali kid ― who grew up surfing on Solana Beach and never played a game in colder than 50 degree weather ― play the game of his brief Ohio State life in the freezing snow. And strengthen his already impressive Heisman Trophy measurables.

Ohio State has played 12 games now, and hasn’t really been tested. While the rest of college football is jockeying for position in their wake, the Buckeyes haven’t lost since the last time they played The Game.

Since the loss and the resulting fight between the teams and the mayhem that followed.

But instead of wilting in the moment, Ohio State not only got better, it got meaner and tougher and mentally stronger. A year later in this moment, everything changed. 

Ohio State rushed for 77 yards in last year’s game — after a season of an emphasis on the run game with the hiring of UCLA coach Chip Kelly to run the offense — and freshman tailback Bo Jackson had 77 yards rushing in the first half. By the time the Buckeyes were salting away a huge win late in the fourth quarter, they had 186 yards rushing.

Ohio State ran 73 plays, Michigan ran 42. Ohio State had the ball for 40 minutes, Michigan for 20.

Ohio State beat Michigan ― hold onto your Bucknuts, everyone ― by playing like Michigan. The very thing the Buckeyes tried to do last season and failed spectacularly.

‘During the season, when things are going well, I always say that’s all great,’ Day said. ‘But how’s it going to look when it’s snowing sideways in late November?’

Like a thing of beauty for the first time since 2019.

Hang it in the Louvre.

This post appeared first on USA TODAY

Lionel Messi has delivered Inter Miami to the brink of its first Major League Soccer championship.

Inter Miami defeated New York City FC, 5-1, in the Eastern Conference final on Saturday, Nov. 29. As a result, Inter Miami will play in MLS Cup for the first time.

Inter Miami will play the Vancouver Whitecaps — winners of the Western Conference final — in MLS Cup. Since Inter Miami finished the regular season with a better record than Vancouver, the Herons will host the league’s championship game at Chase Stadium in Fort Lauderdale, Florida, on Saturday, Dec. 6 (2:30 p.m. ET on Apple TV and FOX).

Tadeo Allende had a hat trick in Inter Miami’s impressive victory. Allende’s eight goals during the 2025 MLS Cup Playoffs ties him with Carlos Ruiz (2002) for the most in a single postseason in MLS history. Mateo Silvetti and Telasco Segovia added second-half goals for Miami. Messi’s assist on Silvetti’s goal gave him 13 goal contributions (six goals, seven assists) in Inter Miami’s five playoff games this season.

It was an all-in, ‘Last Dance’-type campaign for Inter Miami. Two of Messi’s legendary former FC Barcelona teammates, Jordi Alba and Sergio Busquets, are retiring. Another ex-Barcelona teammate of Messi, Luis Suarez, is not yet under contract for 2026.

For Messi, the eight-time Ballon d’Or award winner and 2022 World Cup champion with Argentina, he can win his 47th career trophy for club and country if Inter Miami prevails in MLS Cup.

In the six-season history of Club Internacional de Fútbol Miami, it has won the 2023 Leagues Cup and 2024 MLS Supporters’ Shield. Now, the club is one step away from collecting its grandest prize.

Inter Miami vs. New York City FC Eastern Conference final highlights

When is MLS Cup 2025?

  • Date and time: Saturday, Dec. 6 at 2:30 p.m. ET
  • Location: Chase Stadium, Fort Lauderdale, Florida
  • TV and streaming: FOX and Apple TV

USA TODAY Sports’ 48-page special edition commemorates 30 years of Major League Soccer, from its best players to key milestones and championship dynasties to what exciting steps are next with the World Cup ahead. Order your copy today!

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COPPER MOUNTAIN, Colorado — Mikaela Shiffrin brings an impressive streak into the slalom race at the Copper Mountain World Cup.

Going back to last season, Shiffrin has made the podium in the last five slalom races. She’s won four of them, including the first two of this season to extend her record of World Cup wins to 103.

But Shiffrin isn’t assuming anything going into Sunday’s slalom race, the last of the World Cup at Copper Mountain.

‘It’s going to be a really long slalom,’ Shiffrin said after the giant slalom race Saturday, Nov. 29. ‘All the women today who did this race, I think we’re all going to be really feeling our legs tomorrow. I’m already feeling my legs, so I’m unsure what that means for quickness and coordination. The biggest task for the rest of the day is reset, get some recovery — I mean as much as possible — and try to just mentally override whatever fatigue I might have tomorrow.’

Here’s how to watch the slalom race at the Copper Mountain World Cup:

When does Mikaela Shiffrin start?

Mikaela Shiffrin will start fourth in the first run of the slalom race. Wendy Holdener of Switzerland drew the first spot, followed by teammate Camille Rast and Croatia’s Zrinka Ljutic.

Shiffrin’s start position for the second run will be determined by her finish in the first run.

Where are the other Americans?

Paula Moltzan, who had top-five finishes in the season’s first two slalom races, will start 13th. There’s a long wait until the next American, Elisabeth Bocock, who will start 35th. Nina O’Brien, whose 11th-place finish in Saturday’s GS race was the best for the Americans, starts 39th followed by Liv Moritz in the 40th starting spot.

Annika Hunt starts 53rd and Liv Moritz’s twin sister Kjersti, who made her World Cup debut Saturday, rounds out the U.S. contingent in 56th.

How the slalom race works

The top-ranked skiers are at the top of the starting order for the first run. The top 30 qualify for the second run, when the finish order of the first run is reversed and the fastest skiers will go last.

How to watch

Broadcast/streaming schedule (all times Eastern)

Outsideonline.com will show all of the races live while NBC, Peacock and CNBC will have a mix of live and delayed coverage.

Noon – First run, women’s slalom, outsideonline.com

1 p.m. – Delayed coverage of women’s giant slalom, NBC and Peacock

2 p.m. – Delayed coverage of men’s super-G, CNBC and Peacock

3 p.m. – Second run, women’s slalom, outsideonline.com, CNBC and Peacock

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South Harz Potash Limited (ASX:SHP) (South Harz or the Company) is pleased to announce that it has entered into an option heads of agreement to acquire the Glava Copper-Gold-Silver project in south-western Sweden. The acquisition marks the first step in the Company’s transition toward a diversified, multi-asset exploration and development strategy.

South Harz Executive Chairman Mr Len Jubber, commented:

“The Glava acquisition option represents an exciting milestone and opportunity for South Harz to leverage our European footprint into one of the most geologically prospective and underexplored copper-gold provinces in Scandinavia. This first step transforms South Harz into a diversified resources company, moving from a single asset company towards a broader regional platform. While we maintain strategic patience with our large-scale South Harz Potash Project, we are broadening our portfolio to include metals essential to global supply chains and the energy transition.

The Glava Project offers immediate discovery potential, hosting visible bornite, covellite, and chalcocite epithermal mineralisation with gold, silver and tellurium in outcropping vein systems, including historic
artisanal production of over 10% copper. Negligible glacial till allows for the use of proven, cost-effective exploration techniques. Initial field activities, including a magnetic survey have been completed under
the guidance of McKnight Resources and we look forward to analysing and interpreting the gathered information in the coming weeks. We are committed to systematically exploring Glava’s potential, while continuing to evaluate complementary opportunities to strengthen the portfolio and create sustained shareholder value.”

Highlights

  • Option Agreement executed to acquire Glava Cu-Au-Ag Project, located in Värmland Province, Sweden
  • First potential acquisition under South Harz’s diversified asset growth strategy, expanding its portfolio into critical (base) and precious metals alongside German potash assets
  • High-grade epithermal copper mineralisation, with associated gold, silver and tellurium, confirmed by recent sampling. Historic artisanal mining recorded up to 10.5% Cu
  • Negligible glacial till allows for use of proven, cost-effective exploration techniques
  • Ground magnetic survey and rock chip sampling completed in November 2025, with results to feed into drill target generation
  • Option Agreement includes strategic relationship with vendors McKnight Resources AB, resulting in established and experienced exploration capability in Sweden
  • The potential acquisition delivers immediate discovery opportunity, while preserving the long term value and optionality in the perpetual tenure across the SHP German potash projects

The Glava Project

The Glava Project, which is located in Sweden’s Värmland region (Figure 1), covers 430Ha under a single exploration licence within the eastern extensions of the Proterozoic Grenville Orogenic Belt, an emerging copper-gold exploration district extending through Scandinavia, the UK, Greenland and Newfoundland.

The project area comprises a highly prospective and underexplored copper-gold system with a history of high-grade artisanal production. It hosts outcropping bornite, covellite and chalcocite mineralisation, and visible tellurides, as described in the Sweden Geologiocal Survey (SGU) database, at two mineral occurrences, namely Glava Koppagruvor and Skarpning SV Glava (Figure 1). The telluride minerals are frequently a component of epithermal deposits. This acquisition gives South Harz immediate exploration access to critical and precious metals in a Tier-1 European jurisdiction.

Historic records show that artisanal mining at Glava Koppargruvor produced about 2,280 tonnes of rock, including 49 tonnes with a grade of 10.5% Cu, as well as additional enriched ore stockpiles from shallow early 20th-century workings (Lundegårdh 1995). Two main accessible shallow open pits (East and West), together with an abandoned 14m deep shaft, provided opportunities for a modern assessment of the geological setting and sampling of the material on the adjacent waste dumps (Figure 2). Mineralisation is structurally controlled along a north-south oriented fracture array that intersects the shallow-south-dipping meta-sediment host rocks. The target zone is interpreted to be dipping towards the south (refer Figure 2, Longitudinal Section).

Click here for the full ASX Release

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Like its sister metal gold, silver has been attracting renewed attention as a safe-haven asset.

Although silver continues to exhibit its hallmark volatility, a silver bull market is well underway in 2025.

Experts are optimistic about the future, and as the silver price’s momentum continues in 2025, investors are looking for price forecasts and asking, “What was the highest price for silver?”

The answer reveals how much potential there is for the silver price to rise.

Read on for a look at silver’s historical moves, its new all-time high price and what they could mean for both the price of silver today and the white metal’s price in the future.

In this article

    How is silver traded?

    Before discovering what the highest silver price was, it’s worth looking at how the precious metal is traded. Knowing the mechanics can be useful in understanding why and how its price changes on a day-to-day basis and beyond.

    Put simply, silver bullion is traded in dollars and cents per ounce, with market activity taking place worldwide at all hours, resulting in a live silver price. Key commodities markets like New York, London and Hong Kong are just a few locations where investors trade the metal. London is seen as the center of physical silver trade, while the COMEX division of the New York Mercantile Exchange, called the NYMEX, is where most paper trading is done.

    There are two popular ways to invest in silver. The first is through purchasing silver bullion products such as bullion bars, bullion coins and silver rounds. Physical silver is sold on the spot market, meaning that to invest in silver this way, buyers pay a specific price for the metal — the silver price per ounce — and then have it delivered immediately.

    The second is accomplished through paper trading, which is done via the silver futures market, with participants entering into futures contracts for the delivery of silver at an agreed-upon price and time. In such contracts, two positions can be taken: a long position to accept delivery of the metal or a short position to provide delivery.

    Paper trading might sound like a strange way to get silver exposure, but it can provide investors with flexibility that they wouldn’t get from buying and selling bullion. The most obvious advantage is perhaps the fact that trading in the paper market means silver investors can benefit long term from holding silver without needing to store it. Furthermore, futures trading can offer more financial leverage in that it requires less capital than trading in the physical market.

    Market participants can also invest in silver through exchange-traded funds (ETFs). Investing in a silver ETF is similar to trading a stock on an exchange, and there are several silver ETFs to choose from. Some ETFs focus on physical silver bullion, while others focus on silver futures contracts. Still others focus on silver stocks or follow the live silver price.

    What is silver’s all-time high price?

    The silver all-time high was US$56.86, which it set on November 28, 2025.

    However, until October 9 of this year, the white metal’s all-time high had been the same for 45 years — silver’s former all-time high was US$49.95, and it was set on January 17, 1980.

    It’s worth unpacking what happened, because price didn’t exactly reach that level by honest means.

    As Britannica explains, two wealthy traders called the Hunt brothers attempted to corner the market by buying not only physical silver, but also silver futures — they took delivery of those silver futures contracts instead of taking legal tender in the form cash settlements. Their exploits ultimately ended in disaster: On March 27, 1980, they missed a margin call and the silver market price plunged to US$10.80. This day is infamously known as Silver Thursday.

    That record silver price wouldn’t be tested again until April 2011, when it reached US$47.94. This was more than triple the 2009 average silver price of US$14.67, with the price uptick coming on the back of very strong investment demand.

    So what happens next? While silver has officially broken its 1980 peak, it is still well below that price point adjusted for inflation. It remains to be seen just how high silver can go.

    Silver’s price history since 2011

    Silver price chart, November 10, 2010, to November 10, 2025.

    Chart via SilverPrice.org.

    After its 2011 peak, silver’s price pulled back over the following years before settling between US$15 and US$20 for much of the second half of last decade. An upward trend in the silver price started in mid-2020, when it was spurred on by the economic uncertainty surrounding the COVID-19 pandemic. The price of silver breached the key US$26 level in early August 2020, and soon after tested US$30. However, it failed to make substantial progress past that.

    In the spring of 2023, the silver price surged by 30 percent, briefly rising above US$26 in early May; however, the precious metal cratered back down to US$20.90 in early October. Later that month, silver advanced toward the US$23 level on the back of safe-haven demand due to the outbreak of the Israel-Hamas war.

    Following remarks from US Federal Reserve Chair Jerome Powell, speculation about interest rate reductions sent the price of silver to US$25.48 on November 30, its highest point for the fourth quarter.

    After starting 2024 on a low note, the white metal saw gains in March on rising Fed rate cut expectations. The resulting upward momentum led silver to reach a Q1 high of US$25.62 on March 20 before breaking through the US$30 mark on May 17. The silver price reached a then 12 year high of US$32.33 on May 20.

    In Q3, the metal’s price slid down below the US$27 mark to as low as US$26.64 by August 7 alongside its industrial cousin copper. Heading into Q4 2024, silver reversed course to the upside, tracking the record breaking moves in the gold price. Silver once again breached the US$30 level on September 13 and continued higher.

    On October 21, the silver price moved as high as US$34.20 during the trading day, up more than 48 percent since the start of the year and its highest level in 12 years. However, silver spent the rest of the year in decline, bottoming out at US$28.94 on December 30.

    Silver’s price performance in 2025

    Silver price chart, December 31, 2024, to November 28, 2025.

    The silver price experienced a momentum shift at the start of 2025, breaking through the US$30 barrier as early as January 5, and reaching US$31.31 by January 29. The metal continued to post gains through much of February and March, climbing to US$32.94 on February 20 and then peaking at its quarterly high of US$34.21 on March 28.

    Following US President Donald Trump’s tariff announcements on April 2, silver slumped to below US$30. While the Trump administration’s tariff policies have been largely beneficial for safe-haven assets like precious metals, there were concerns that the threat of tariffs could weaken industrial demand, which could cool price gains in the silver market.

    Yet those concerns were pushed to the back burner as recent economic and geopolitical events have raised analysts’ expectations of a September rate cut by the Fed. The benchmark rate has not changed since November 2024.

    On June 5, the silver price rose to a 13 year high of US$36.05 in early morning trading, before retreating toward the US$35.50 mark. By June 16, the white metal had broken through the US$37 mark for the first time since May 2011.

    In July, increasing geopolitical strife in the Middle East and Russia-Ukraine coupled with a positive outlook for China’s solar power industry proved price positive for both silver’s precious metals and industrial angles.

    The silver price overtook the US$39 level to reach US$39.24 on July 22.

    These same forces, coupled with the nearly unanimous rate cut expectations, launched the price of silver to over US$40 on August 31 for the first time since 2011, and by September 3 it had climbed as high as US$41.45. Silver continued climbing through September, progressively breaking level after level to top US$47 by the month’s end.

    Silver started Q4 by continuing its ascent, breaking through its 2011 peak and topping US$48 on October 3.

    The silver price officially surpassed its all-time US dollar high of US$49.95 — set in 1980 on October 9 — as it climbed to US$51.14 during trading that day. The white metal had already beaten its all-time highs in most currencies, including Canadian dollars and Australian dollars, on September 22.

    It continued climbing even higher on the safe-haven demand fundamentals behind its 2025 momentum. Helping drive that demand in October was escalating trade tensions between the US and China, leading to export controls on additional rare earth metals by China and threats of 100 percent tariffs on Chinese imports by the US.

    While silver pulled back to around US$48 in late October, news that the US government shut down had come to an end on November 9 drove the silver price back above US$50.

    Silver’s foray above the US$56 level on November 28 came on the back of an outage at the Comex, where trading was briefly halted due to a ‘cooling issue’ at a CyrusOne data center used by the exchange.

    Silver supply and demand dynamics

    Market watchers are curious as to whether the silver price will continue its upward trajectory in 2025. Only time will tell, and it will depend on the white metal’s ability to remain above the critical US$30 level.

    Like other metals, the silver spot price is most heavily influenced by supply and demand dynamics. However, as the information above illustrates, the silver price can be highly volatile. That’s partially due to the fact that the metal is subject to both investment and industrial metal demand within global markets.

    In other words, it’s bought by investors who want it as a store of wealth, as well as by manufacturers looking to use it for different applications that are incredibly varied. For example, silver has diverse technological applications and is used in devices like batteries and catalysts, but it’s also used in medicine and in the automotive industry.

    In terms of supply, the world’s three top producers of the metal are Mexico, China and Peru. Even in those countries silver is usually a by-product — for instance, a mine producing primarily gold or lead might also have silver output.

    The Silver Institute’s latest World Silver Survey, put together by Metals Focus, outlines a 0.9 percent increase in global mine production to 819.7 million ounces in 2024. This was in partly the result of a return to operations at Newmont’s (TSX:NGT,NYSE:NEM,ASX:NEM) Peñasquito mine in Mexico following a suspension of activity brought about by strike action among workers and improved recoveries out of Fresnillo (LSE:FRES,OTC Pink:FNLPF) and MAG Silver’s (TSX:MAG,NYSEAMERICAN:MAG) Juanicipio. Silver output also increased in Australia, Bolivia and the US.

    The firm is forecasting a 1.9 percent rise in global silver mine production to 823 million ounces in 2025. Much of that growth is expected to come out of Mexico, and it is also projecting output will rise in Chile and Russia.

    Lower production from Australia and Peru will offset some of these gains.

    Looking at demand, Metals Focus sees growth in 2025 flatlining as industrial fabrication takes a hit from the global tariff war. This could be tempered by an anticipated rebound in demand from physical investment in silver bars and coins.

    The silver market is expected to experience a substantial deficit of 117.6 million ounces in 2025, amounting to the sixth straight year of supply shortage for the metal.

    Is the silver price manipulated?

    As a final note on silver, it’s important for investors to be aware that manipulation of prices is a major issue in the space.

    For instance, in 2015, 10 banks were hit in a US probe on precious metals manipulation. Evidence provided by Deutsche Bank (NYSE:DB) showed “smoking gun” proof that UBS Group (NYSE:UBS), HSBC Holdings (NYSE:HSBC), the The Bank of Nova Scotia (TSX:BNS) and other firms were involved in rigging silver rates from 2007 to 2013. In May 2023, a silver manipulation lawsuit filed in 2014 against HSBC and the Bank of Nova Scotia was dismissed by a US court.

    JPMorgan Chase & Co. (NYSE:JPM) has been long at the center of silver manipulation claims as well. For years the firm has been in and out of court for the accusations. In 2020, JPMorgan agreed to pay US$920 million to resolve federal agency probes regarding the manipulation of multiple markets, including precious metals.

    In 2014, the London Silver Market Fixing stopped administering the London silver fix, which had been used for over a century to fix the price of silver. It was replaced by the LBMA Silver Price, which is run by ICE Benchmark Administration, in a bid to increase market transparency.

    Market watchers like Ed Steer have said that the days of silver manipulation are numbered, and that the market will see a significant shift when the time finally comes.

    Investor takeaway

    Silver has neared US$50 multiple times, including its all-time high, and as momentum continues for the silver price in 2025 investors are wondering if it could reach those heights once again.

    While it’s impossible to know for sure what’s next for silver, keeping an eye on the factors driving its performance, including gold’s performance, geopolitics, the economy and industrial demand, will help investors make decisions on when to buy and sell.

    Securities Disclosure: I, Melissa Pistilli, currently hold no direct investment interest in any company mentioned in this article.

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