Investors' appetite for precious metals supports silver and platinum prices

Silver prices maintained their circulation near the highest level in 13 years, supported by a technical penetration of platinum prices to the highest levels since 2022, which is an indication of the increasing appetite for investors versus the precious metals used in the industrial sector. The direct silver price rose 4.5% on Thursday to $ 36.06 per ounce, which is the highest since February 2012, while Platinum jumped 4.8%, more than $ 1146 an ounce. Prices continued their stability near the price summit on Friday. This height has a strong artistic momentum prevailing in the mineral complex, as well as an improvement in the basic factors; The strong demand for real silver in India, and the restoration of Chinese demand for platinum, to improve the wave of Ascension, according to Nikki Shells, head of the mineral strategy at MKS Pamp SA, based in Geneva. The effect of commercial fees war that often moves silver, as well as platinum, parallel to gold, which has long been seen as a safe haven in times of geopolitical tension. Gold has risen by more than 40% over the past twelve months, supported by the escalation of the US trade war, which strengthened its attraction as a hedging tool, as well as the ongoing central banks in high purchases. Although silver and platinum has registered 19% and 13% respectively, they are still late for higher gold, but they have high value in industrial uses. Silver is considered a substantial element in the production of solar panels, while platinum is used in stimulus and laboratory equipment. Both markets are on their way to register this year’s deficit, after years that have seen the demand for supplies. Shells are of the opinion that stability is above $ 35 level is a “decisive turning point” for silver, and if this level continues, it is likely that the attention of individual investors who have been inactive for a while. She added that the demand for the circulating funds supported by platinum could attract a speculative wave, in light of the ongoing high rental prices (metal metal for a period against advantage), indicating a market scarcity. The increase in platinum cabinets shows data collected by “Bloomberg” that the investment funds distributed in platinum are beginning to rise, and have increased by more than 3% since the middle of the May. On the other hand, the flow entering the silver boxes since February has risen the stake by about 8%. Meanwhile, Instant Gold rose by 08:52 hours of Singapore Time by 08:52 to 3358.53 dollars per gram, and on the way to weekly profits at about 2%. The “Bloomberg” index of the immediate dollar fell 0.1%, while Palladium settled unchanged. On the other hand, investors are awaiting the US post report later on Friday, following an unexpected increase in unemployment subsidies requests, which reinforces the betting that the ‘Federal Reserve’ can reduce interest rates at least twice this year. Reducing borrowing costs is a positive factor for gold and other precious minerals as it does not have benefits.