Silver surge: White metal breaches $100 per ounce for first time; Donald Trump policy jitters fuel safe-haven rush
Silver prices surged to an all-time high of $100 an ounce on Friday, crossing the milestone level for the first time as investors flocked to safe-haven assets amid growing uncertainty surrounding the policies of US President Donald Trump, according to AFP.The precious metal touched a record $100.29 per ounce in trade, extending a rally that has seen silver double in price in just about three-and-a-half months. Apart from its traditional role as a hedge during periods of economic and political turmoil, demand for silver has also been boosted by its extensive industrial use, including in solar panels, electronics and jewellery.Gold, often seen as silver’s sister metal, was also trading near record territory, closing in on the $5,000-an-ounce mark as investors continued to rotate into hard assets amid heightened global uncertainty.“As high-risk as gold may be, it has nothing on silver which continues to outperform in the most extraordinary fashion,” David Morrison, senior market analyst at Trade Nation, said.Amidst the tight supply conditions of the metal as silver increasingly being snapped up for use in data centres and artificial intelligence-related infrastructure.Silver had last hit a major milestone on October 9, when it crossed $50 an ounce, its highest level since 1980, underscoring the speed and scale of the current rally.
