Silver Price Surpasses $100 an Ounce – Record Highs for Gold Too

As of 5:45 PM CET, silver prices surged by over 4.5 percent, nearing $100.60 per ounce.Simultaneously, gold prices rose by approximately one percent, exceeding $2,4980 per ounce, according to data from Bloomberg.

“Breaking the $100 per ounce barrier moves silver into⁢ an entirely different league than it has historically traded in. This isn’t a one-off event or a speculative excess of a few weeks.Over the past twelve months, silver has strengthened by roughly ⁤223 percent, adn it has added 41 percent as the beginning of this‍ year,” said Petr Lajsek, an analyst⁢ at purple Trading. “These figures make it not only the best-performing precious metal currently, but one of the strongest assets across the⁤ entire market. Surpassing the‍ three-digit price mark has a strong psychological effect and also confirms that the market is ‍no ‍longer concerned with whether silver is expensive, but whether there is enough of it.”

According to lajsek, silver serves as a hedge against the loss of confidence ⁢in the monetary system, but is also a strategic industrial raw material that the modern economy cannot do without. “Electric mobility, solar energy, data⁤ centers, the growth of artificial intelligence, and investments in transmission networks are increasing structural demand at a rate that mining has long…