Silver catches the 'gold fever' and surpasses $50 per ounce for the first time

The gold fever that has led this metal to break its all-time highs almost continuously has rubbed off on silver, which has surpassed the $50 per ounce price for the first time.

Experts point out that this is due to the shortage of supply of the metal and an economic environment that revalues precious metals for their value as a safe haven against market turbulence due to global socio-political tensions.

Gold breaks through the $4,000 barrier

Last Thursday was the first time silver reached a high of $51 per ounce, hours after breaking the historic $50 barrier. The last time this precious metal brushed $50 was in 1980, without then surpassing that limit.

A day earlier, it was gold that broke its historic maximum, surpassing the barrier of 4,000 dollars per ounce.

Economy

The price of gold surpasses $4,000 per ounce for the first time

Williams Perdomo

Experts believe that the upward trend in the price of both metals will continue

At conversation with Reuters, echoed by Fox News, Tai Wong an independent metals trader, said, "Speculators are pulling back some gold chips as the Gaza cease-fire takes effect, as it lowers the temperature in a historically volatile region."

According to Wong, value rises in both metals will not wane despite the entry into force of the Peace agreement of Trump in Gaza: "Gold and silver may need to consolidate further, but the main drivers of the rally, diversification of reserves and large and rising global sovereign debt, remain entirely valid and keep the bullish outlook intact."