The ounce of gray metal peaks at $ 21.19 per ounce around 4 p.m., a level not seen since July 2014.
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The ounce of silver crossed the symbolic threshold of 20 dollars on Tuesday and reached a high in six years, in an environment favorable to precious metals.
At around 2:05 p.m. GMT (4:05 p.m. in Paris), the ounce of silver peaked at $ 21.19 per ounce, a level not seen since July 2014.
Compared to its lowest low in eleven years, reached in March, at the heart of the financial crisis caused by the Covid-19 pandemic, the precious metal has gained around 80%.
“As with gold, silver’s turnaround was fueled almost exclusively by robust speculative demand,” said Daniel Briesemann, analyst for Commerzbank, while the yellow metal hit a new nine-year high on Tuesday, at $ 1,841.65 per ounce.
Precious metals act as a safe haven and take advantage of the period of great uncertainty opened up by the pandemic.
In addition, regarding gray metal more specifically, “its preeminence in new battery technologies and the reduction in mining supply, which is the main source of money, are creating an imbalance between supply and demand. demand ”, pointed out Jasper Lawler, analyst for London Capital Group.
Around 2:15 p.m. GMT, silver was worth $ 21.08 an ounce, up 5.87% from its Monday night level.
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