FX.co ★ Silver Set for Eighth Straight Weekly Gain

Silver prices eased slightly to approximately $49 per ounce on Friday but are poised to secure their eighth consecutive week of gains. This sustained rally is attributed to robust safe-haven demand and ongoing supply constraints. Notably, silver has appreciated over 70% this year, surpassing the performance of gold. This upward momentum is driven by investor reactions to fiscal challenges in the United States, the likelihood of lower interest rates, apprehensions about the Federal Reserve's autonomy, and escalating global debt concerns. Political instability due to the US government shutdown, unrest in France, and shifts in leadership in Japan have further fueled demand for silver. Additionally, a scarcity of readily available silver in the London market has contributed to elevating the metal's prices. Given silver's diverse applications, ranging from investment to industrial uses such as in solar panels and wind turbines, it is anticipated that demand will continue to exceed supply for a fifth consecutive year in 2025.