Silver prices rose to  an ounce for the first time

The price of silver exceeded the $75 per ounce mark for the first time on Friday. The price of the precious metal climbed to 75.15 dollars (63.76 euros). Gold prices also reached a record high of $4,531 per ounce. Analysts attribute the development to economic and geopolitical uncertainties. In times of crisis, precious metals are considered a safe investment. Since January, the price of gold has risen by almost 70 percent and the price of silver by over 150 percent.

Such an annual increase had not been recorded since 1979. In addition, silver is an indispensable industrial metal for the production of semiconductor chips for AI, which are used in data centers worldwide.

Since the return of US President Donald Trump the White House and its attacks on the US Federal Reserve, confidence in US government securities and the dollar has fallen. The budget freeze in the USA, the so-called shutdown, further intensified the development. Against this background, investors are increasingly turning to precious metals or cryptocurrencies such as Bitcoin.

By Editor

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