Silver rose above $47 per ounce on Wednesday, marking a new 14-year high as the US government shutdown fueled safe-haven demand for precious metals after lawmakers failed to reach a temporary funding deal.
The closure will furlough hundreds of thousands of federal workers and halt key services, with traders now focused on its duration since a prolonged shutdown could delay critical economic data ahead of the Federal Reserve's late-October meeting, including Friday's nonfarm payrolls.
At the same time, the Silver Institute projected a global market deficit for the fifth straight year in 2025, estimating output at 844 million ounces, about 100 million short of demand. Stronger adoption of solar power further boosted the metal's appeal, alongside rising demand from consumer electronics and data centers.
Source: Trading Economi
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