The international precious metals market saw another strong rally today, with spot silver prices successfully breaking through the $67/ounce mark, setting a new historical record. According to the latest quotes, spot silver rose 2.38% intraday, reaching a high above $67. Meanwhile, COMEX silver futures performed even better, rising 3.00% intraday, with the latest quote at $67.18/ounce.
Driven by the rise in silver prices, silver's market capitalization reached $3.789 trillion, surpassing Alphabet (Google's parent company) to become the world's fourth largest asset, after gold, Nvidia, and Apple. Meanwhile, Bitcoin, during its recent pullback, has fallen to eighth place among global assets.
This surge continues silver's recent strong performance, primarily driven by increased investor demand for safe-haven assets, expanding industrial applications, and market expectations of further monetary easing. Analysts point out that silver, as a precious metal with both safe-haven and industrial properties, is particularly attractive to large inflows of funds in the current economic environment.
However, the trading platform reminds investors that although silver prices continue to rise, potential volatility remains high, and investors should be aware of the risks.
