Silver Hits New Record Above $51, Supported by Global Tensions
Silver prices surged more than 2% to above $51 per ounce on Monday, marking a new all-time high. This surge was triggered by escalating trade tensions between the United States and China, as well as global political concerns that prompted investors to turn to safe-haven assets. President Donald Trump had threatened to impose 100% tariffs on Chinese goods starting November 1, although he later signaled his readiness to negotiate with President Xi Jinping ahead of the APEC meeting later this month.
The price increase was also supported by expectations of a Federal Reserve (Fed) interest rate cut, which is expected to cut rates by 25 basis points this month and possibly again in December. Interest rate cuts typically increase the appeal of precious metals like silver and gold, as they reduce the yields on risky assets.
In addition, tightening physical silver supplies in the London market contributed to the price rally. Broader geopolitical concerns—from the US government shutdown to political turmoil in France to leadership uncertainty in Japan—are further strengthening silver's position as a key hedge against uncertain global conditions. (az)
Source: Newsmaker.id
