Global silver Price has experienced an all time high reaching U$75.235 per troy ounce, according to statistics of the New York Mercantile Exchange.
Data from the trading platform indicates that as of 1:04 a.m. GMT, the price of the precious metal was rising by 4.87%, reaching U$75.175 per troy ounce. By 1:14 a.m. GMT, the value of silver accelerated its growth to U$75.235 per troy ounce (+4.95%).
All global markets are curious about the growing trading figures for silver.
Experts argue that the price of silver has been highly volatile and is currently near all-time highs, driven by strong industrial demand and speculative interest.
The surge in pricing is attributed to various factors especially strong demand from the solar, electric vehicle, and electronics industries is a major driver.
Also expectations of future U.S. Federal Reserve interest rate cuts increase the attractiveness of non-yielding assets like silver.
Another factor is that an ongoing supply tightness has supported the market’s upward movement.
