Silver prices surged above $33.50 per ounce on Thursday, advancing for a fourth consecutive session as mounting concerns over the US fiscal outlook weighed on the dollar and boosted demand for safe-haven assets.
Investor sentiment deteriorated after President Donald Trump's proposed tax bill was projected to add over $3 trillion to the already substantial US debt load, raising fears of financial instability.
A weak 20-year Treasury bond auction further fueled expectations that investors are rotating out of US assets, adding momentum to precious metals. In addition to safe-haven buying, industrial demand for silver remains robust particularly from the solar energy sector.
Recent data showed China's wind and solar capacity surged to nearly 1,500 GW in the first quarter of 2025, driven by a 60 GW increase in photovoltaic installations. Meanwhile, solar power output in Europe jumped 30% YoY during the same period, reinforcing the bullish case for silver.
Source: Trading Economi
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