Silver prices rose above $100 an ounce for the first time ever on Friday, while gold hit another record en-route to $5,000/oz as investors pile into safe-haven assets amid geopolitical turmoil and on expectations for U.S. interest rate cuts. The spot price for silver jumped 4.05 percent to $100.1 an ounce. The metal has surged more than 200 percent in the past year, also driven by ongoing challenges in scaling up refining of the metal and a persistent supply shortage in the market. “Silver should continue to benefit from many of the same forces supporting gold investment demand,” said Philip Newman, a director at Metals Focus. “Additional support will come from ongoing tariff concerns and still low physical liquidity in the London market.” The spot price for gold was 0.48 percent higher at $4,959.98 an ounce, after touching a record of $4,967.03 earlier in the day. U.S. gold futures for February delivery added 0.98 percent to reach $4,961.20. “Gold’s role as a haven and a diversifier in highly uncertain economic and political times is making it a necessity for strategic portfolios. It’s mo
Silver hits record high above $100/oz as gold closes in on $5,000 milestone
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