Silver Hits New High Amid Safe-Haven Rush

2026-01-28 23:20 By Farida Husna 1 min. read

Silver surged to another record above $117 per ounce Thursday, extending its year-to-date rally beyond 60% as safe-haven demand held firm amid economic and geopolitical uncertainty.

Investors continued to favor precious metals even after the Federal Reserve left rates unchanged, citing resilient growth and sticky inflation while offering little clarity on future cuts.

The rally persisted despite the U.S.

dollar’s rebound, underscoring strong hedging demand against currency headwinds.

Risks remained elevated, from Middle East tensions to global trade frictions, with renewed protectionist rhetoric ahead of the U.S.

election fueling concerns over tariffs, supply-chain disruptions, and inflationary pressures.

Sentiment was further weighed by fears of a potential government shutdown that could delay key data releases.

Meanwhile, robust industrial demand from renewable energy and electronics continued to tighten supply, reinforcing silver’s upward momentum despite the Fed’s cautious stance.



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