Shafaq News

Silver rose 9% to hit a record high on Saturday, bolstered by multiple factors including a market deficit and increasing industrial demand.

The white metal was at a record high of $78.53 an ounce. Other precious metals also gained, with spot gold at an all-time-high of $4,549.71/oz and platinum at a record high of $2,454.12/oz after a 10% climb.

Spot palladium registered a more than 14% gain, and was last at $1,924.03/oz.

Platinum and palladium, widely used in automotive catalytic converters, have surged on tight supply, tariff uncertainty, and rotation from gold investment demand, with platinum up roughly 165% and palladium more than 90% year-to-date.

(Reuters)

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