FX.co ★ Silver Trades Near 13-Year Highs

Silver prices remained above $36.50 per ounce on Thursday, close to their highest levels in 13 years, as increasing tensions in the Middle East drove up demand for safe-haven assets. Concerns heightened after reports suggested that US officials are considering a possible strike on Iran, raising fears of wider regional instability. Simultaneously, the US Federal Reserve decided to keep interest rates steady and maintained a cautious approach, highlighting that President Trump's tariffs could heighten inflation and complicate the economic outlook. Earlier this week, silver reached its highest price since 2012, buoyed by a mix of safe-haven investments, strong industrial demand, and deepening supply shortages. Silver's growing significance in solar energy, electronics, and electrification now constitutes over half of the global demand, emphasizing its increasing structural importance. On the supply front, the market remains tight, experiencing its fifth consecutive annual deficit.