Silver Holds High Amid Geopolitical Tensions
Silver Holds 12-Year High Silver held above $34.5 an ounce on Wednesday, holding at its highest level in 12 years as global uncertainty and signs of physical shortages lifted the metal. Markets pointed to uncertainty surrounding the U.S. election and ongoing conflicts in the Middle East, as well as expectations of further monetary easing from major central banks.
The global shift toward cleaner energy has also significantly boosted industrial demand for silver, a key component used in solar panels, raising concerns about a potential supply shortage. Elsewhere, top metals consumer China recently introduced a series of stimulus measures to revive economic growth, including cutting key lending rates and providing liquidity to capital markets.
Source: Trading Economics
