Silver Prices Reach New High, Breaking Records: New Peak $49.82

Historical Rise in Silver

Recently, the rally in gold prices has also impacted silver prices, leading to new records. In the spot market, the price of silver reached $49.82, increasing by 2%. This level surpassed the peak in 2011 and marked the highest price the metal has reached since 1993.

Annual Increase and Economic Risks

As of 2023, silver prices have shown an increase of over 70%, outperforming record-breaking gold. This rapid rise is attributed to the increasing demand for safe-haven assets due to financial risks in the U.S., an overheating stock market, and uncertainties regarding the independence of the Fed.

Supply Situation and Market Effects

Additionally, shortages in the freely available silver supply in the London market have sharply increased borrowing costs, supporting open prices. This situation may further heighten investor interest in silver.