Source: CryptoNewsNet
Original Title: Silver Blows Past $100 in Historic Repricing Escalade
Original Link:
Silver surpassed the historic $100 mark on Friday morning, with COMEX March futures reaching $101.165 per ounce. This milestone represents the first time the white metal has achieved this price level, setting a new benchmark for the precious metals industry.
Historic Rally Gains Momentum
The surge is part of a remarkable rally that has driven silver from $30 in April to today’s prices, representing gains exceeding 200% in less than a year.
Key Drivers Behind the Rally
Analysts have identified several factors supporting this escalation:
Increased industrial demand from Chinese investors, where silver commands a premium of over $14 per ounce
Ongoing supply deficits and slow production increases
Geopolitical concerns including developments in Venezuela and Iran, the Russia-Ukraine conflict, and unpredictable economic policies
Flight to safety as investors hedge using precious metals as financial tools
Expert Outlook
Josh Philip Phair, Founder and CEO of Scottsdale Mint, views this movement as part of a broader repricing that should have occurred years ago:
“The reality is that these prices should have been seen years ago, and this new price discovery is simply finding new zones of valuation. IMO, it’s not stopping here as a longer-term outlook.”
Earlier forecasts indicate that silver could reach $200 to $300 by the end of this rally, suggesting continued upward momentum in the precious metals market.
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Silver Breaks $100 Per Ounce: Historic Rally Signals Continued Upside Potential
Source: CryptoNewsNet Original Title: Silver Blows Past $100 in Historic Repricing Escalade Original Link: Silver surpassed the historic $100 mark on Friday morning, with COMEX March futures reaching $101.165 per ounce. This milestone represents the first time the white metal has achieved this price level, setting a new benchmark for the precious metals industry.
Historic Rally Gains Momentum
The surge is part of a remarkable rally that has driven silver from $30 in April to today’s prices, representing gains exceeding 200% in less than a year.
Key Drivers Behind the Rally
Analysts have identified several factors supporting this escalation:
Expert Outlook
Josh Philip Phair, Founder and CEO of Scottsdale Mint, views this movement as part of a broader repricing that should have occurred years ago:
Earlier forecasts indicate that silver could reach $200 to $300 by the end of this rally, suggesting continued upward momentum in the precious metals market.