Silver Leads Precious Metals Rally

The prices of most precious metals experienced significant gains on Wednesday, with silver surging over 3%. This remarkable increase is attributed to the growing optimism surrounding solid industrial demand. Silver, widely utilized across various sectors, stands to benefit greatly from any positive developments in global trade relations, particularly between the US and China.

Market Movements at a Glance

At 10:52 am ET, silver prices leaped by 3.31%, reaching $33.57 per ounce. Following closely, palladium saw a 2.04% increase to $979.86 per ounce, and platinum advanced by 0.78%, trading at $929.12 per ounce. In contrast, gold prices took a downturn, decreasing by 2.74% to $3,289.24 per ounce.