Silver Hits All Time High
Silver climbed was up more than 3% to almost reach $50 per ounce on Wednesday, an all time high as prolonged US government shutdown against a backdrop of increased geopolitical and economic uncertainty fueled demand for safe-haven assets.
The shutdown entered its second week with no resolution in sight, darkening the economic outlook, delaying key data, and adding pressure on lawmakers to strike a deal. Markets also expect the Federal Reserve to deliver a quarter-point rate cut this month, with another likely in December.
Elsewhere, political turbulence in Europe and Japan added to caution after the resignation of France’s prime minister and the election of “Abenomics” supporter Sanae Takaichi as Japan’s next leader. Meanwhile, robust physical demand from the solar and electronics sectors continued to underpin prices, with the Silver Institute forecasting a global supply deficit for the fifth straight year in 2025.
Source: Trading Economics
