Silver followed gold to reach a historic high: the price rose to $49.54 per ounce

On Wednesday, silver jumped to a record high, following an unprecedented rise in gold, which exceeded $4000 per ounce earlier in the session.

By 16:11 GMT, the spot price of silver rose 3.5% to $49.54 per ounce, reports Reuters.

The highest price for silver – $49.95 per troy ounce – was fixed january 17, 1980. However, this record was largely artificial: it was stimulated by the actions of the Hahn brothers, who tried to control the silver market.

a "clean" market record is $48.45 per ounce at the close of the session, recorded on April 28, 2011.

Analysts of the Swiss bank UBS predict that by mid-2026, the price of silver could reach $55 per ounce.

Despite the fact that silver does not have the same central bank support as gold, UBS sees growth opportunities primarily due to industrial demand for silver, especially in the electronics and solar energy sectors.

UBS predicts that silver ETFs will rise to "previous highs of 1021 million ounces from the current level of about 822 million ounces."

"For many investors, silver remains cheap relative to gold," UBS noted, emphasizing that while gold is trading at "all-time highs in both real and nominal terms," silver offers "potential for relative revaluation."

• Silver price on September 1, for the first time since 2011 exceeded $40 per ounce.