US EditionSilver Surges Past $60 per Ounce for the First Time
Silver's price doubled this year as demand from technology and industrial sectors surged amid expected US Federal Reserve rate cuts and tariff-related stockpiling, experts say.
- On Tuesday, silver crossed $60 on the spot market and traded near $60 on Wednesday after roughly $50 in late November.
- With a widely expected rate cut on Wednesday, investors shifted into silver as Federal Reserve easing since January lowered returns on interest-bearing assets.
- Industrial demand now accounts for more than half of silver use, as manufacturers rely on silver's superior conductivity in electric vehicles and solar panels.
- Prospects of duties have prompted stockpiling and strained global supplies, as the United States imports about two-thirds of its silver, making manufacturers face higher costs amid traders' nervousness over President Donald Trump's trade policies.
- Because most silver is a by-product, supply cannot be quickly ramped up, and manufacturers expect prices to remain high in the coming months as silver's value has roughly doubled this year.
49 Articles
49 Articles
The Fed lowers the key interest rate as expected. Not enough, US President Trump believes, but US investors are satisfied. The third rate step in a row is also noticeable in the rising demand for precious metals.
The precious metal expands its profits this Wednesday after exceeding $60 per ounce for the first time last Tuesday, when it won more than 4% in the session. The precious metal is being driven by the shortage of offer and bets in favor of a greater monetary stimulus by the Federal Reserve of the United States.Continue reading
The silver cut continued to be appreciated after March for the first time, the price of $60 per ounce, on the basis of the restrictions on the offer as well as the prices on a new one...
The precious metal is as expensive as never before. The current price surge has to do with speculation about falling key interest rates in the US.
Coverage Details
Bias Distribution
- 45% of the sources lean Right
Factuality
To view factuality data please Upgrade to Premium
