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Prices have risen by more than a third this year, supported by a weak dollar, Federal Reserve policy and market imbalances that are taking a toll on demand for solar panels.
Since the beginning of this year, the development of precious metals has performed outstandingly in the market, among which silver has been particularly prominent. Benefiting from the depreciation of the US dollar and the monetary policy decisions of the Federal Reserve, the value of silver has appreciated by more than one-third, and the market demand is also greater.
Since the beginning of the year, silver has risen 34.1% to €28.98 per ounce (troy ounce, 31.1 grams) at the price on Thursday, May 30. Compared to the 2011 peak of €29.94 reached on May 21, it has appreciated 38.5% since January 1.
Silver has appreciated twice as much this year as gold, with which silver has remained correlated for decades.
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