For the first time since 1993, an ounce of silver exceeds $50, a historic high

Today, the price of an ounce of silver reached a record high, exceeding $50 since 1993, at a time when demand for safe values ​​is increasing amid economic and geopolitical concerns.

After an ounce of gold recorded its highest record level on Wednesday at more than four thousand, the price of an ounce of silver, a precious metal also used in industry, rose by 3.12% to reach $50.4142 at approximately 13:30 GMT.

John Blassar, investment strategy officer at City Gestion Private Bank, said in a statement to Agence France-Presse that this rise represents a “compensatory effect” for silver after the significant gains achieved by gold.

Fouad Razaqzadeh, an analyst at City Index, attributed the price rise to “macroeconomic uncertainty, a weak dollar and continued demand for tangible assets.”

In a protective measure, investors are turning to alternative values, such as gold and Bitcoin, which also recently reached a record level.

“Silver is an essential industrial metal for the production of AI semiconductor chips that power data centers around the world,” noted Kathleen Brooks, research director at brokerage XTB.

Increasing geopolitical instability, such as the war between Israel and Hamas and between Russia and Ukraine, also contributed to a significant rise in gold and silver prices.