Silver Jumps Above $85 an Ounce as Traders Weigh Market Balance
Spot gold rose 0.5% to $5,051.89 an ounce as of 7:23 a.m. in Singapore.
Photographer: Akos Stiller/BloombergSilver jumped, extending a run of elevated volatility, as an industry body pointed to stronger investment buying and weaker industrial demand in the year ahead.
The metal rose as much as 6.8% on Wednesday, about one-third higher than last week’s low. The silver market will be in deficit for a sixth consecutive year, according to a report published by the Silver Institute, as surging investment outweighs wilting demand for jewelry and efforts to curb use in the solar sector.