International silver prices have surpassed $100 per ounce for the first time, driven by rising demand for safe-haven assets amid global uncertainty. Gold prices are also expected to break $5,000 per ounce soon after hitting a record high.
Silver stood at $101.3 per ounce Friday, marking its first move above the $100 threshold. The price has surged about 338 percent from $23 per ounce in January 2024.
Gold prices have followed a similar trajectory. After trading at around $2,000 per ounce in early 2023, gold climbed roughly 158 percent to reach $4,979 as of Friday.
Analysts attribute the rally in gold and silver to a weakening US dollar, low interest rates and heightened geopolitical uncertainty, including remarks by US President Donald Trump on Greenland and ongoing protests in Iran.
shinjh@heraldcorp.com
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