Commodities
Silver Surges Past $66 USD/Ounce as Oil Prices Cool Down
The price of silver has surged past the $66 USD/ounce mark after experiencing strong fluctuations in recent weeks.
The increase, which amounts to 1.6%, was recorded on September 19 at 11:00 AM Vietnam time.
This growth can be attributed in part to the cooling down of oil prices, which has eased concerns about inflationary pressure and created more support for the precious metals market, including silver.
As of now, the price of Brent oil stands at $104.87 USD/barrel, down 0.93%, while WTI oil has fallen to $100.30 USD/barrel, down 1.58%.
The US Federal Reserve's recent decision to raise interest rates by another 0.25 percentage points, bringing the interest rate band to 3.75-4%, is still a factor affecting the silver market.