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    Home»Precious Metal»Silver (XAG) Daily News: Industrial Demand and Rate Cuts Fuel 40% Yearly Surge
    Precious Metal

    Silver (XAG) Daily News: Industrial Demand and Rate Cuts Fuel 40% Yearly Surge

    October 24, 20241 Min Read


    As interest rates decline, metals like silver become more attractive to investors due to lower returns on bonds and savings accounts.

    Rising Industrial Demand and Green Technology Boost Silver Prices

    A significant driver behind silver’s recent rally is its growing role in green technology, particularly in solar energy. Silver, essential in various industries, has become a critical component in solar panels, positioning it as a vital player in the renewable energy transition.

    Unlike gold, silver’s industrial applications are vast, spanning electronics and medical devices.

    According to The Silver Institute, industrial demand for silver reached a record 654.4 million ounces in 2023, marking an 11% increase.

    This is the third consecutive year that demand has exceeded supply, driven by the rising adoption of green technologies. As the renewable energy sector expands, silver’s practical value is expected to continue bolstering prices.

    Federal Reserve Actions and Market Sentiment Influence Silver

    In the U.S., the Federal Reserve’s interest rate cuts have been a key factor impacting silver prices. While the Fed reduced rates by 50 basis points in September, expectations of further cuts have tempered due to strong economic indicators.



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