Silver climbs to new record
Silver climbed more than 3% to above $69 per ounce on Monday, reaching a new record, driven by expectations of further Federal Reserve rate cuts and escalating geopolitical tensions.
Recent US data point to moderating inflation and a softer labor market, giving the Fed more scope to ease policy, with markets pricing in two additional rate reductions next year. Lower interest rates tend to support non-yielding metals.
Geopolitical developments, including intensified US sanctions on Venezuela and Ukraine’s attack on a Russian-controlled oil tanker in the Mediterranean, have further reinforced silver’s role as a safe-haven asset.
On the industrial side, demand remains robust, supported by growth in the solar, electric vehicle, and data center sectors, underpinning the metal’s long-term fundamentals.
The precious metal is on track for an impressive gain of nearly 140% in 2025.
UCapital Asset Management LLP or group companies may have commercial relationships with the companies mentioned. This content is not financial advice.
Sign up for free to ask the AI about this article.
Multiples, financials, sentiment and risks in 60 seconds, with live data.