Overview
- Spot silver traded near $50.4 per ounce on Oct. 9 and hovered around $50 on Oct. 10 after breaking the decades-old barrier.
- Gold set a fresh record above $4,000 per ounce this week, with the white metal’s jump described as a catch-up move by some strategists.
- Analysts cite geopolitical uncertainty, U.S. policy turbulence and a weaker dollar—pressured by President Trump’s new tariff threats and delayed economic data—as primary drivers of the rally.
- Silver’s dual role in semiconductors, 5G equipment, electric vehicles and AI hardware, alongside a long-running supply deficit, is reinforcing support.
- Dealers report increased retail activity in coins and jewelry, while some forecasts point to potential further gains, including about $55 per ounce in 2026.