Silver prices soared by 10% approaching the $80 mark, while gold prices rose by over 1%

Investors are betting on U.S. interest rate cuts and geopolitical turmoil, driving up demand for safe-haven assets. Precious metals surged across the board, with platinum and palladium rising by over 10%.

The spot silver price increased by 10.3% to $79.27 per ounce, nearing the $80 mark, and has risen approximately 1.7 times this year, primarily due to supply shortages, designation as a critical mineral in the U.S., and strong investment inflows.

Spot gold rose by 1.2% to $4,533.21 per ounce. February gold futures increased by $49.9 or 1.1% to $4,552.7 per ounce.

March silver futures rose by 7.7% to $77.196 per ounce.

March copper futures rose by 4.7% to $5.8395 per pound.

January platinum futures rose by 9.9% to $2,471.4 per ounce.

March palladium futures rose by 12% to $2,023.3 per ounce