Gold Breaks $3,700 — Silver Nears $44… Don’t Miss This Move →
Silver has surged to a 13-year high, and platinum is also gaining ground, driven by rising global demand and tightening supply. Strong buying activity in India and China is fueling the rally, with silver playing a key role in solar panel production and platinum used in vehicles and lab equipment—making both essential industrial metals.
In addition to solid fundamentals, geopolitical tensions are also boosting prices. Gold, often seen as a safe haven, is up 28% this year, adding momentum to the broader precious metals market. If these trends hold, silver may attract more interest from retail investors, while platinum could experience a speculative surge.
The silver and platinum price surge continued Friday, with both metals extending gains after rising more than 4% in the previous session. Gold also edged higher, though at a more modest pace.
Analysts point to a combination of strong technical momentum and improving fundamentals behind the rally. Rising demand for physical silver in India and renewed platinum buying in China are helping to sustain the upward trend, according to Nicky Shiels, head of metals strategy at MKS PAMP SA.
The silver and platinum price surge often mirrors movements in gold, especially during periods of global uncertainty. This year, gold has climbed 28%, fueled by trade tensions and consistent central bank purchases—further strengthening investor demand across the precious metals market.
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