- It reported that the silver spot price surged 7% in one day, exceeding 77 dollars per ounce.
- Dollar weakness, inflation-hedge demand, and expanding industrial demand were cited as the background drivers of the price rise.
- Some market participants, while wary of a possible correction after the short-term surge, assessed that the medium-term trend could be maintained given the macro environment and physical demand.
- The article was summarized using an artificial intelligence-based language model.
- Due to the nature of the technology, key content in the text may be excluded or different from the facts.
Silver spot prices surged more than 7% in a single day, surpassing 77 dollars per ounce. Strong buying across the precious metals market has increased volatility.
On the 26th (local time), according to economic breaking news channel Walter Bloomberg, the international silver spot price rose more than 7% intraday to top 77 dollars per ounce. This immediately broke through the upper end of the price range formed over the past several months.
The market points to dollar weakness and renewed emphasis on inflation-hedge demand as the background. With gold prices showing strength, buying also spread to silver, which has a high share of industrial demand.
In particular, silver is seeing increased usage across industries such as solar power, electric vehicles, and semiconductors, maintaining expectations for structural demand. Accordingly, analysts said the characteristic of showing greater volatility than gold was reconfirmed.
Some market participants, while cautious about a potential correction after the short-term surge, believe that the medium-term trend could be maintained given the macro environment and physical demand.
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