Spot Silver Price Surges Past $90/oz with Nearly 2% Intraday Gain

Silver Price Breaks Through Key Resistance Level

Recently, spot silver prices surged, breaking through the critical resistance level of $90 per ounce, with an intraday gain of 1.97%.

Market Analysis

This rally was primarily driven by macroeconomic conditions, geopolitical risks, and a weakening US dollar. Rising investor demand for silver as a safe-haven asset further pushed prices higher.

• Increased macroeconomic uncertainty
• Geopolitical risks boosting safe-haven demand
• US dollar remains under pressure

Outlook

Market participants generally expect silver prices to continue rising in the near term, while the long-term trend depends on the pace of global economic recovery.