FX.co ★ Silver Hits Fresh High

Silver surged by over 4% to reach $74.8 per ounce on Friday, marking its fifth consecutive session of gains and setting a new high. This increase is attributed to heightened investor sentiment amid continuing geopolitical tensions and anticipated further interest rate cuts by the US Federal Reserve. The recent US blockade on Venezuelan oil tankers, initiated by President Trump nine days ago, has fueled fears of global supply disruptions, thereby boosting the safe-haven appeal of silver. Additionally, the metal's rally has been bolstered by significant central bank acquisitions and growing investor anxiety over currency devaluation and escalating global debt levels. So far this year, silver has skyrocketed approximately 158% due to a mix of factors, including a structural supply shortfall, robust industrial demand, and its recent classification as a critical mineral by the US.