“Silver is a key component needed for data centres and AI, and the market is waking up to that demand,” said Kazuhiro Sasaki, head of research at Phillip Securities Japan Ltd. Many investors are shifting funds from chips and other AI-related stocks to metals like silver, which look more undervalued, he said.
(Dec 29): Shares of Asian mining companies surged after silver prices spiked to an all-time high on Monday (Dec 29).
Australian mining companies gained the most, with Sun Silver Ltd up as much as 24% and Silver Mines Ltd up as much as 26%. Japanese silver producer Toho Zinc Co gained as much as 16% in Tokyo and China-based Hunan Silver Co rose by the 10% daily limit in Shenzhen.
