Silver rallies to 8-month highs as Ukraine crisis deepens

2022-03-07 12:06:24 GMT (Economies.com)
Silver rallies to 8-month highs as Ukraine crisis deepens

Silver prices spiked in European trade to eight-month highs amid strong haven demand as the Ukraine crisis deepens.

 

Silver prices rose 1.75% to $26.15, the highest since July 2021, after rising 2.1% on Friday on active demand following a two-day hiatus from gains on profit-taking.

 

Silver prices rose 5.9% last week, the fifth weekly profit in a row, and the longest such streak since October 2021.

 

The US government stated earlier that the west is seriously considering a bank on Russian oil and gas imports.

 

However the west won't take such a step until alternative supplies have been reliably established, which could take some time.

 

US Congress is actively discussing new bills to completely bank Russian imports, in a step that would increase Russia's isolation.

 

It's the first such step towards completely removing Russia from the World Trade Organization.

 
 
 
  Symbol Last Change Chg.%
1.0508
-0.0082
0.7787%
1.2197
-0.0108
0.8786%
22.509
-0.648
2.798%
76.071
-5.404
6.633%
81.85
-0.87
1.05%
1775.575
-19.985
1.113%
 
 
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