Silver prices soared to their highest level in nearly three years on Tuesday, echoing the upward trend in gold prices, which reached yet another record high. Silver prices comfortably traded above $27.80 an ounce, briefly spiking to $28.36 an ounce, marking the highest price since May 2021.The surge in silver prices has undoubtedly been fueled by the impressive performance of gold, which achieved a fresh all-time high of $2,365 an ounce on Tuesday.
Analyst reports have also highlighted significant inflows into the silver ETF market in recent weeks, supporting the upward momentum in silver prices. Moreover, the weakening of the US dollar against other major currencies since the start of April has strengthened dollar-denominated assets like gold and silver.
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Credit: Liberty & Finance
Smart Money Clearly Moving Into Silver Market | Peter Krauth
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