28.01.202623:20:49UTC+00Silver Hits New High Amid Safe-Haven Rush

Silver reached a new pinnacle, soaring above $117 per ounce on Thursday, pushing its year-to-date ascent over 60%. This rise highlights its appeal as a safe-haven asset amid ongoing economic and geopolitical uncertainties. Investors maintain a strong preference for precious metals, even following the Federal Reserve's decision to keep interest rates unchanged. The Fed acknowledged strong growth and persistent inflation but did not provide significant guidance on future rate cuts. Silver's rally endures despite the U.S. dollar's recovery, highlighting substantial hedging demand against currency fluctuations. The environment remains fraught with risks, from tensions in the Middle East to global trade disputes. Heightened protectionist sentiments in the lead-up to the U.S. election raise alarms about potential tariffs, supply chain disruptions, and inflationary pressures. Additionally, concerns about a possible government shutdown, which could delay critical economic data, further exacerbate market pessimism. Concurrently, robust industrial demand from the renewable energy and electronics sectors continues to strain supply, bolstering silver's upward trajectory, even in light of the Fed's guarded position.