Already in the evening of January 23, the cost of silver rose by 3.95%, reaching $100.18 per troy ounce. At the same time, the spot price of gold approached $5,000 per ounce, reaching $4,967.48 at its peak on January 23.
The last time the price of silver updated the historical maximum on January 20. At that time, the Comex silver price rose to $95.14 per ounce.
As noted by Reuters, silver prices are growing rapidly amid investors’ hasty investments in safe haven assets amid geopolitical instability and expectations of interest rate cuts by the U.S. Federal Reserve.
According to the agency, the value of the metal has increased by more than 200% since United States President Donald Trump entered his second term in January 2025.
