Silver Reaches All-Time High Due to Economic and Political Strains
Silver Price Surge: Silver prices have reached a historic high of $66.22 per ounce, driven by cooling U.S. labor data and rising geopolitical tensions with Venezuela, marking a 129% increase this year compared to gold's 65% gain.
Gold's Performance: Spot gold also saw an increase of 0.7%, settling at $4,334.01, influenced by expectations of Federal Reserve interest rate cuts due to a softening labor market.
Geopolitical Factors: The U.S. administration's blockade of sanctioned oil tankers in Venezuela has heightened investor interest in precious metals as a safe haven amid escalating tensions.
Broader Market Trends: The rally in precious metals extended to platinum and palladium, with platinum reaching a 17-year high and both metals experiencing significant gains, as investors await upcoming economic reports for further insights.
About the author









