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The international price of silver breaks resistance in February, reaching $87 per ounce
The international price of silver has experienced a significant surge in recent sessions, reaching $87 per ounce, a level not seen since the beginning of the month. This breakout above resistance reflects the current momentum in the precious metals market, driven by various macroeconomic factors that favor safe-haven asset demand.
Record high in global markets
During the last trading session, according to Jin10 data, the price of silver increased by 2.87%, indicating strong buying sentiment. This rise adds to the upward trend that has characterized the white metal’s behavior in the international spot market, where participants continue to show interest in accumulating positions.
New York futures also record significant gains
Meanwhile, silver futures contracts traded in New York also reached the $87 per ounce mark, completing a move that showed a 5.66% gain on the same day. This synchronization between the spot and futures markets reveals a consensus among institutional investors and speculators regarding bullish prospects for the international silver price in the short term.