Silver prices stabilized above $32 per ounce on Monday after experiencing wild swings in the previous session. The metal found support from a weaker dollar, driven by softening US economic data and easing concerns over a global trade war. Investors also kept an eye on US-led efforts to resolve the war in Ukraine, which could reduce demand for safe-haven assets like silver.
However, silver reached a three-month high on Friday as strong industrial demand, particularly from the electrification and manufacturing sectors, supported prices. Recent data revealed that China added 357 gigawatts of solar and wind power in 2024, a key driver of industrial silver usage.
On the solar energy front, India's Oil and Natural Gas Corp pledged INR 1 trillion in wind and solar investments by the end of the decade, while Indonesia committed to adding 17 gigawatts of solar capacity through state-owned enterprises.
Source: Newsmaker.id
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