The price of silver jumped above $51 per ounce

© Сгенерировано Шедеврум

The price of silver has updated its historical high, jumping above $ 51 per ounce.

"Interfax. Markets" reports that the increase in the price of silver on the spot market today, on October 9, amounted to more than 4%, now its value reaches $51.2 per ounce. According to the source, this has not happened since 1980, and since then the figure has not risen above $ 50.

Such results can be explained by increased demand for safe haven assets amid high geopolitical and economic uncertainty, as well as concerns about the independence of the US Federal Reserve System, the state of the state budget and overheating of the stock market. All this supports the precious metals market.  

In total, silver has increased in price by 73% since the beginning of the year.