Silver prices soared to a record high of nearly $59 per ounce, fueled by robust inflows into exchange-traded funds and a tightening physical market. The surge underscores increased demand from both safe-haven investors and industrial sectors, particularly solar and electrification industries.
In contrast, the cryptocurrency market experienced a significant downturn, with Bitcoin dropping approximately 7% to $84,966 and Ether plummeting nearly 29%. Market participants are keenly observing the Federal Reserve's upcoming decisions on interest rates, which could impact both precious metals and digital currencies. Additionally, China's green-tech exports reached $120 billion, though they face potential tariff challenges from the EU and U.S.
Silver Reaches Record $59 Amid ETF Demand and Supply Constraints
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