The Price of Silver Rose to over $ 40 per Troy Ounce (31.1 grams) on Monday for the First Time Since 2011. The Silver Price Has Already Climbed More Than 40 Percent this year. This is partly due to trade tensions on the world stage.
The Weaker Dollar also plays a Role. As a result, precious metals Become cheaper for traders with other currencies. The Price is also being driven by the expected interest rate cut by the us central bank later this month.
The Demand for Silver is Increasing Due to the Weak Dollar. Furthermore, Silver is also important for industrial applications such as solar panels.
The gold price also rose on Monday, to $ 3,477 per troy ounce. This Brings the Gold Price Closer to the Record Level or in $ 3,500 Reached in April.