YORK: While gold slipped off a record run, silver reached a multi-decade high on Thursday as investors continued to seek refuge in safe havens amid economic and geopolitical uncertainties.
As traders considered a wide range of factors, including significant AI investments, business performance, US interest rates, the US government shutdown, political unrest in France, and a ceasefire agreement in Gaza, stock markets were divided.
According to Bloomberg, the price of silver reached levels not seen since 1980, surpassing $50 per ounce. The spike follows sister safe-haven gold’s decline after it reached a record high of over $4,000 an ounce on Wednesday.
“I think it’s a catch-up effect,” Cite Gestion Private Bank’s head of investment strategy, John Plassard
