Silver Hits Historic $100 Mark Amid Political Turmoil
Silver prices shattered records on Monday, surging past $100 per ounce for the first time ever. The dramatic spike, fueled by a rush to safe-haven assets, follows the assassination attempt on former US President Donald Trump, which has triggered significant market uncertainty.
Key Takeaways
- Record High: Silver breached $100/oz, hitting an all-time peak of $100.25.
- Massive Rally: Prices jumped over 12% in a day, extending a 45% monthly surge.
- Primary Driver: Political uncertainty from the Trump incident sparked a classic flight to safety.
- Gold Rises Too: Gold touched a one-month high near $2,450/oz in the same risk-off move.
Market Reaction and Price Action
The white metal soared more than 12% during early Asian trading, reaching $100.25 per ounce. It later settled around $99.50. This historic move continues an explosive 45% rally over the past month, far outpacing gains in gold.
Analysts Point to Safe-Haven Rush
Financial experts link the sharp rise directly to the shocking attack on Trump. The event has injected fresh volatility, pushing investors toward traditional stores of value like precious metals.
“The Trump assassination attempt has created massive political uncertainty, driving a classic flight to safety,” said a market analyst. “Silver is benefiting from its dual role as both a monetary metal and a key industrial commodity, with supply concerns adding to the bullish momentum.”
Broader Implications and Technical Breakout
The surge reflects deeper concerns about the future direction of US fiscal and monetary policy. Markets are now assessing how the incident could impact the upcoming presidential election and subsequent economic decisions.
Breaking the psychological $100 barrier is a technically significant event, likely to attract more institutional buying. The rally has already boosted shares of silver mining companies worldwide.
Gold Also Gains in Risk-Off Shift
In a related move, gold prices climbed to a one-month high, nearing $2,450 per ounce. The US dollar and Treasury yields softened as investors globally sought safety, highlighting a broad-based shift in sentiment.
