Gold is no longer the only metal capturing global attention. Silver has experienced a remarkable upswing this year, climbing nearly 75% as investors turn to it for safety, industries increase their consumption, and ongoing supply constraints limit availability, according to Xpats.ae.
On Thursday, spot silver prices peaked at a record $51 per troy ounce, breaking through the $50 threshold for the first time since 1980. The surge reflects strong investor confidence in precious metals amid global economic uncertainty and heightened industrial requirements for silver in technology and renewable energy sectors.
In contrast, gold prices saw a 2% decline on Thursday, slipping after briefly exceeding the $4,000 per ounce milestone in the previous trading session. Analysts attributed the dip to a stronger dollar and profit-taking activity following news of the Israel-Hamas ceasefire agreement, suggesting a short-term correction after recent gains.
