Silver: Exceptional rally continues – ING
|Silver has broken above the $100/oz mark for the first time, extending an exceptional rally. Prices surged nearly 150% last year and have increased by 40% year-to-date, significantly outperforming Gold. This strength is attributed to resilient safe-haven flows and robust industrial demand. Ewa Manthey, Commodities Strategist at ING notes.
Silver breaks above $100/oz
"Support for silver has been reinforced by a weaker US dollar, lower real yields, and stronger investor appetite for hard assets amid heightened policy uncertainty. Silver has also been boosted by a historic short squeeze and strong retail buying."
"At the same time, industrial demand - particularly from solar, electrification, and grid infrastructure investment - has tightened the physical market at a time when mine supply growth remains limited."
"Despite these risks, the broader setup remains constructive. Strong industrial demand, tight physical balances, and solid investor interest continue to support the market."
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