Silver prices jumped to the highest level in 13 years, powered by cutting a technical level in light of the big demand of investors on others and safe metals as gold. The immediate silver price rose 4.2% higher than $ 35.90 per gram, the highest level since February 2012. Alexander Tsomeh, the main trader in the German Gold Raffiring Enterprise “Heraeus Group”, suggested that rise as a result of a mixture of technical momentum, the improvement of the basics. In a renewed request for silver, Tsoumah said: “After failing for a few weeks for gold, the silver has now begun to join the yellow metal.” And added that it indicates that investors’ attention is dependent on the momentum, which is now turning to silver. These two precious minerals are often moved side by side, as geopolitical deviations strengthen the demand for origin that represent safe ports. Gold has increased by 44% over the past twelve months, supported by the expansion of the Customs War led by the United States, which strengthened its attractiveness as a safe haven, as well as the continued purchase of central banks from it. In terms of silver, it rose by 20%, but it remained late. The prices of white metal also received support from large flow to the silver -backed boxes, as the holdings rose by 2.2 million ounces on Wednesday, according to the data collected by “Bloomberg”. Money managers also strengthened their upward bets on future silver contracts on the “Comics” scholarship during the week ended May 23. Silver has a double character as it is used as a financial origin and an industrial entrance in techniques such as clean energy. It is considered an essential element in the solar panels, which is an increasing source of metal demand. In light of this scene, the market is on its way to record a fifth consecutive shortage between supply and demand, according to the “Silver Institute”. The possibility of reducing interest in the meantime supports gold and silver, reports released on Wednesday showed a contraction in the activity of the service sector in the United States and delayed the frequency of employment. Treasury effects returned after the data were issued, while the exchange contracts in October and December paid two reduction in interest rates by the Federal Reserve. Low interest rates often provide support for gold and silver as they are unaware of a return. Immediate silver jumped 4% to $ 35.89 per gram in London today in London. While the “Bloomberg” index of the immediate dollar did not record a significant change. Gold rose 0.8%, while platinum and bolladium rose by more than 2%.
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