Investing.com – December prices reached $2,700 an ounce for the first time in history, marking new highs of $2,708. also updated the record, reaching $2,685 per ounce.
The yellow metal, which has been steadily rising in price for the eighth month in a row, received a new boost from the Fed’s rate cut in September. This week’s rally is fueled by an announcement in China.
At the same time, it jumped to 12-year highs, also supported by expectations of another Fed rate cut.
The spot price of the white metal rose 2.6% to touch $32,632 an ounce for the first time since 2012, extending its gains this year to 37%.
Silver has been one of the best performing commodities this year as the Fed’s switch to more accommodative policy last week and the prospect of further rate cuts boosted prices for metals by low yield.
2024-09-26 12:01:00
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