Silver’s rally comes amid surging investor interest, an increasingly supportive macroeconomic backdrop and a projected fourth annual market deficit. The price rally accelerated Friday, helped by spillover sentiment in the broader metals markets.
Spot silver surpassed US$30 an ounce to hit the highest level in more than a decade.
The precious metal closed 6.5% higher at US$31.49 an ounce Friday, the highest since February 2013. It has soared 32% this year, outpacing gold and making it one of the year’s best-performing major commodities.
