08.10.202517:12:01UTC+00Silver Hits All Time High

Silver surged over 3%, approaching nearly $50 per ounce on Wednesday, marking an all-time high. This rally was driven by the ongoing US government shutdown amidst increasing geopolitical and economic uncertainties, which heightened the demand for secure assets. As the shutdown entered its second week without a resolution, it cast a shadow on the economic outlook, postponed the release of crucial data, and increased pressure on lawmakers to reach an agreement. In financial markets, there is an anticipation of the Federal Reserve implementing a quarter-point rate cut this month, with another expected in December. Political instability in Europe and Japan further contributed to market caution following the resignation of France’s prime minister and the election of Sanae Takaichi, a proponent of "Abenomics," as Japan’s next leader. Meanwhile, strong physical demand from the solar and electronics industries continued to support silver prices, with the Silver Institute projecting a global supply deficit for the fifth consecutive year in 2025.