Silver Surges Past $70/oz on US Monetary Policy Expectations

Silver prices surged on August 28, exceeding $70 per ounce in both domestic and world markets. According to Laodong.vn, the world silver price regained the threshold of $70/ounce, marking a sharp increase of $2.07 compared to the previous day.

The rise in silver prices was influenced by expectations about US monetary policy, as investors await new signals from the Federal Reserve (Fed). The current focus is on Fed Chairman Kevin Warsh's speech at the Jackson Hole conference, where investors expect clues about interest rate orientation.

Silver prices have been supported by increasing demand for industrial use, particularly in renewable energy and technology. However, the market remains volatile, and the need to hedge against risks continues to influence silver prices.