As the global economy grapples with supply issues, the price of silver has soared to a historic high of $56 per ounce, according to Azat TV. This spike in prices comes amid the scarcity of the metal and the hope of a Federal Reserve rate cut.
The silver market has been under stress as the global supply chain struggles to meet the burgeoning demand for this precious metal. The crisis has been compounded by the impacts of climate change and geopolitical tensions causing mining disruptions across major silver-producing nations.
As investors seek safe-haven assets, they turn their attention to commodities like silver, known for retaining its value during periods of market turbulence. This surge in demand against a backdrop of dwindling supply has pushed the price to an unprecedented level.
The silver lining here is the hope of a Federal Reserve rate cut, which could bring cheaper money and encourage economic growth. But until then, the silver market remains a hotspot for investors and traders. Read More
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