Silver Rises on Thursday
Silver rose nearly 2% to $56.50 an ounce on Thursday, tracking gains across precious metals as a broader flight to safety amid a global equity sell-off and tech rout supported demand for safe-haven assets. Concerns over the sustainability of AI spending in a high-interest-rate environment, a weaker US dollar, and geopolitical tensions in the Middle East and Ukraine also shaped market sentiment. Meanwhile, US producer price data added to signs of mounting inflationary pressures, echoing the CPI report released on Wednesday. Persistent inflation has reinforced expectations that the Fed will keep interest rates elevated for longer, potentially weighing on non-yielding precious metals.
Silver rose nearly 2% to $56.50 an ounce on Thursday, tracking gains across precious metals as a broader flight to safety amid a global equity sell-off and tech rout supported demand for safe-haven assets. Concerns over the sustainability of AI spending in a high-interest-rate environment, a weaker US dollar, and geopolitical tensions in the Middle East and Ukraine also shaped market sentiment. Meanwhile, US producer price data added to signs of mounting inflationary pressures, echoing the CPI report released on Wednesday.
Persistent inflation has reinforced expectations that the Fed will keep interest rates elevated for longer, potentially weighing on non-yielding precious metals.