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Analysis: Boosted by safe-haven demand and a weaker US dollar, silver is approaching $100 per ounce
BlockBeats News, January 23rd, driven by safe-haven inflows, a weaker US dollar, and robust industrial demand, the silver price is nearing $100 per ounce. Silver has risen by about 12% so far this week, with a year-to-date increase of over 40%.
Ole Hansen, Head of Commodity Strategy at Saxo Bank, stated that momentum and Fear of Missing Out (FOMO) are driving this rally, but he pointed out that this is not purely a speculative market. Meanwhile, the platinum price has also risen by 3.3%.
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