Silver Nears Record High, Investors & Industry Scramble for the White Metal
Silver prices rallied above $65.5 per ounce on Friday, approaching a record high, amid a weakening dollar and strong fundamentals. The precious metal is on track for its fourth consecutive weekly gain and has risen more than 120% since the start of the year, reflecting strong investor appetite for safe-haven assets.
Investor demand has increased as falling interest rates, fiscal concerns, and global economic uncertainty drive a search for safe haven assets. This trend is reflected in record inflows into silver exchange-traded funds (ETFs), from both institutional and retail investors, strengthening silver's position as a leading investment choice this year.
Additional support comes from strong industrial demand, particularly from the rapidly growing solar, electric vehicle, and data center sectors. Meanwhile, silver supply in the London market is facing pressure, and these tight conditions are expected to persist until 2026, keeping silver prices high. (az)
Source: Newsmaker.id