Spot silver climbed above the $70-per-ounce mark on Tuesday, extending its rally as a combination of strong industrial demand, sustained investor interest, tightening inventories, and rising geopolitical tensions boosted prices. Expectations of further U.S. interest rate cuts by the Federal Reserve also added support to the move.
Silver was last trading about 1.5% higher at $70.06 an ounce by 13:14 GMT, after briefly touching a new all-time high of $70.18 earlier in the session. The breakout highlights growing momentum in the precious metals market as investors seek both inflation hedges and exposure to industrial metals tied to global growth trends.
