'Jumped twice compared to 'gold'... "Can't sell due to shortage" 'Rush' amid price surge
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- International silver prices have surged more than 160% this year, recording a higher rate of increase compared to gold.
- They said the U.S. government's Critical Mineral designation, supply shortages, interest rate cuts, and dollar weakness drove the surge.
- Experts said to beware signs of overheating such as the possibility of profit-taking sales following short-term surges.
- 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.
International silver price records 160% increase this year
International silver (銀) prices have repeatedly surged, surpassing the $78-per-ounce level.
On the 26th (local time), the spot silver price surged 9% in one day to 78.53 dollars, setting a record high. Silver has risen more than 160% so far this year, outperforming gold, which rose about 70%.
Analysts attribute this surge to a combination of chronic supply shortages, increased military tensions between the United States and Venezuela, dollar weakness, and the U.S. Federal Reserve's three consecutive interest rate cuts.
In addition, the recent official designation of silver as a 'Critical Mineral' by the U.S. government is seen as the decisive springboard for this super rally.
The market expressed expectations that silver has emerged from gold's shadow and been reborn as an independent strategic mineral.
Particularly on YouTube and the online community Reddit, claims have spread that, considering inflation, current prices are still cheap compared to the 1980 peak, strongly stimulating investors' buying sentiment.
However, experts warn of overheating. Market research firm Spectra Markets warned, "Silver tends to surge in a parabola and then crash," saying profit-taking selling could flood the market after the short-term surge.
O Se-sung Hankyung.com reporter sesung@hankyung.com
