Silver reaches 12-Year high on global uncertainty and increased demand

Silver remained above $34.5 per ounce on Wednesday, reaching its highest level in 12 years, driven by global uncertainties and signs of physical shortages.

Silver reaches 12-Year high on global uncertainty and increased demand

Market concerns centered around the US election, conflicts in the Middle East, and expectations of further monetary easing from major central banks. Additionally, the growing shift toward clean energy has significantly boosted industrial demand for silver, a key material in solar panels, heightening fears of a potential supply shortage.

China implements stimulus measures, including rate cuts, to boost growth

Meanwhile, China, the largest consumer of metals, has implemented stimulus measures to revive growth, including key lending rate cuts and increased market liquidity.