Silver Hits 13-Year High
Silver prices rose above $36 an ounce on Monday, hitting their highest level in more than 13 years as safe-haven demand remained strong amid global economic and trade uncertainty. The metal also found support from gold’s recent underperformance, prompting investors to turn to alternative precious metals.
Caution prevailed in the market ahead of renewed U.S.-China trade talks in London, with sentiment dampened by disappointing Chinese export data. In May, Chinese exports fell short of expectations, weighed down by a sharp drop in shipments to the U.S., underscoring ongoing trade tensions.
In addition to its role as a hedge, silver has also benefited from strong industrial demand, particularly in solar energy applications. According to the Silver Institute, global silver supply is 15% below demand in 2024, with another deficit projected for this year, further supporting prices.
Source: Trading Economics
