Silver over the past two weeks has experienced a significant rise of 18%, while gold gained only 8%. This sharp increase followed a short but noticeable correction that took place from October 17 to 28. After that, investors returned to precious metals as a safe haven amid growing global uncertainty.

Interest in silver is rising

According to TradingView data, on Thursday the price of silver exceeded $54.30 per ounce, marking more than a 0.51% daily gain and approaching last month’s record.

Interest in this metal is supported by expectations that the Federal Reserve will proceed with interest rate cuts in response to a weakening U.S. labor market. Such an environment traditionally favors precious metals, as lower rates reduce the attractiveness of bonds and strengthen commodities as an alternative for investors seeking returns outside the stock market.

If you are considering how to take advantage of the current rise of this metal, you can easily invest in silver via the XTB platform. The broker offers direct access to market prices, analytical tools, and educational materials for investors of all levels.

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Price growth is also supported by supply and demand concerns

In addition to monetary policy, silver’s rise was also fueled by supply concerns. India is currently entering the wedding season, during which demand for jewelry and precious metals traditionally increases. At the same time, concerns are growing over possible U.S. tariffs on silver imports, which could create further market tension.

The boost was also supported by growing optimism that the . This would allow new economic data to be released and provide a clearer outlook for the Fed.

According to CME Group, markets currently estimate approximately 55% probability of a 25-basis-point interest rate cut in December. This development indicates that investors are increasingly expecting a loosening of monetary policy, which strengthens confidence in rising silver prices.

At the same time, the U.S. Department of the Interior last week, according to a Financial Times report, included silver, copper, and metallurgical coal on the list of “critical minerals.” This recognized their strategic importance for the economy and national security. This step creates a basis for potential import restrictions, similar to what happened with copper earlier this year.

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