Silver Prices Strengthen on Safe Haven Appeal and Industrial Demand
The global silver market showed moderate gains on Tuesday. Silver closed at US$37.83 per troy ounce, up about 1% after holding below the US$37.50 resistance level. Prices were being tested by market speculation about a potential Fed interest rate cut following the latest weak US jobs data, which weakened the dollar and boosted the precious metal's appeal.
This increase was driven by continued strong demand from the industrial sector—particularly electronics, renewable energy, and high-tech applications—while global supply continues to show a deficit.
On a year-over-year basis, silver prices in 2025 have strengthened by more than 30% compared to the start of the year, marking a bullish trend supported by the imbalance between industrial demand and limited supply.
Source: Newsmaker.id