Silver edged above US$26 per ounce on Monday (July 27), adding more that 31 percent to its value since January.
Safe haven demand and record exchange trade fund (ETFs) inflows have been the primary catalysts for the metal’s sustained growth in Q2. Reinvigorated animosity between the US and China, and concern a second wave of COVID-19 will further weaken the global economy have been key drivers recently.
The white metal is now back in territory unseen since September 2013, with motivators in place to move it higher.