Silver prices surged to $100 per ounce for the first time on Friday, reflecting rising investor demand for safe-haven assets amid uncertainty linked to United States economic policies.
The precious metal climbed to a record $100.29 per ounce, marking a dramatic rise after doubling in value within just three and a half months. Analysts attribute the surge to global economic uncertainty, tight supply, and growing industrial demand.
Silver is widely used in solar panels, electronics, jewellery, and increasingly in data centres supporting artificial intelligence, intensifying pressure on already limited supply.
Gold also rallied, trading close to its all-time high of $5,000 per ounce, as investors turn to traditional stores of value during periods of market volatility.
READ ALSO
- Eid-el-fitr: Goronyo distributes food items to 7,000 women in Sokoto
- Dangote Refinery Raises Petrol Price to N1,275/Litre After Multiple Hikes
- US Deploys Drones, 200 Troops to Nigeria for Intelligence Support
Market analysts say silver has outperformed gold in recent months, highlighting the metal’s growing appeal amid economic and geopolitical tensions.
Silver previously hit $50 per ounce in October, its highest level since 1980, before continuing its upward climb.
About The Author
