Spot prices for silver hit a historic high amid increased demand for safe-haven assets and expectations of a softening of US Federal Reserve policy. Silver rose 1% to trade at $72.15 per ounce, with prices reaching a record high of $72.7 per ounce during the session, according to Experts Club.
Market participants attribute the growth to increased geopolitical risks, as well as “weak liquidity” at the end of the year, which can make market movements more volatile. As noted by Ilya Spivak, head of global macroeconomics at financial company Tastylive, precious metals are perceived as a neutral asset “without sovereign risk” in the context of deglobalization, and silver could approach $80 per ounce in the next 6-12 months.
Earlier, the Experts Club analytical center released a video analysis of the race for global leadership in silver production from 1971 to 2024. The analysis is available on the Experts Club YouTube channel.
