14.01.202603:46:19UTC+00Silver Scales New Record Highs

Silver surged past $89 per ounce on Wednesday, reaching new record highs as investors sought refuge amidst the backdrop of geopolitical tensions, escalating fiscal debt, and concerns over the US Federal Reserve's independence. Expectations of further rate cuts by the Fed this year bolstered prices, especially following US inflation data that aligned with forecasts. The market anticipates the Fed will maintain current policies later this month, with two rate cuts projected to commence in June. Meanwhile, robust investment inflows and strong industrial demand, propelled by the global shift towards clean energy technologies and artificial intelligence, sustained the positive outlook. On the supply front, silver continues to experience a multi-year deficit, worsened by limited liquidity in the London market. Uncertainties around tariffs and silver's classification as a critical mineral in the US also contributed to the price support.