Silver price surges past $102 per ounce
Recently, the spot silver price has surged past $102 per ounce, gaining over $5 in a single day and rising to another record high. This price movement has drawn significant attention from investors worldwide.
Key drivers behind the rise in silver prices
Currently, the silver rally is being driven by several key factors:
- Increased global economic uncertainty and heightened risk aversion
- Rising inflation expectations boosting demand for precious metals
- Industrial demand recovery providing support for silver as a critical raw material
These combined factors have made silver one of the strongest-performing assets recently.
Market outlook for silver
Several analysts suggest that silver prices still have room to rise further. With central banks maintaining accommodative monetary policies, the precious metals market is expected to remain supported.