Silver rallies to fresh record highs – ING
|Spot Silver rose for a second consecutive session to fresh record highs yesterday, amid soaring safe-haven asset demand and intensified supply shortages in the London bullion market, ING's commodity experts Ewa Manthey and Warren Patterson note.
Silver has gained more than 73% so far this year
"There are suggestions that a lack of readily available Silver in London is driving prices up, largely due to fears of potential US tariffs that have triggered a rush to ship Silver across the Atlantic. Meanwhile, recent data shows that Silver ETFs continue to increase with total known holdings witnessing inflows of 621.7koz for a third consecutive session to 822.6moz as of yesterday."
"Earlier estimates from the Silver Institute indicated a fifth consecutive year of supply deficit for the metal this year. Silver has gained more than 73% so far this year, supported by growing demand for safe-haven assets amid fiscal concerns, overheated equity markets, and threats to the Federal Reserve’s independence."
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.