Silver Records Unprecedented Jump, Breaking the $110 Per Ounce Barrier

Silver prices recorded a new historical high during trading on Monday, surpassing the $110 per ounce level for the first time in its history, amid increasing investor interest in safe-haven assets due to rising global geopolitical tensions.

Strong Gains in Futures Contracts

According to trading data, silver futures contracts for delivery in March next year on the COMEX exchange in New York rose by 8.61%, reaching $110.055 per ounce by 12:32 PM.

Notable Increase in Spot Prices

At the same time, spot silver prices climbed by 6.49%, reaching $109.887 per ounce, reflecting a strong buying wave in global markets.

Demand for Safe Havens

Analysts attribute this sharp rise to investors turning towards precious metals, primarily silver, as a safe haven amid the prevailing uncertainty in the global political and economic landscape.

Expectations of Continued Supply Shortages

Market experts expect that the supply shortages in the silver market will continue this year, mainly driven by rising investment demand, along with limited production, which may support prices at high levels in the coming period.

Silver Competes with Gold

Observers believe that the strong performance of silver enhances its position as a competing investment metal against gold, especially with its increasing use in industrial and technological sectors, alongside its traditional role as a hedge.